Markets

What would be a better example of a dynamic market

• Technology markets
• Fizzy drink

Which is true of niche markets?

• You sell undifferentiated products
• You sell differentiated products

What is a dynamic market?

• One that only grows
• One with slow (or very minor) growth or retraction
• One that changes rapidly
• One with many businesses

smaller market that has a unique set of needs

• Psychographics
• Niche market
• Mass marketing
• Product usage

A niche market addresses a need for a product or service that is not being addressed by mainstream providers

• true
• false

What is market share?

• The amount of total sales over a time period
• The amount of total profit over a time period
• The amount of praise over a time period
• Taking a piece of the market

Which business would likely sell to a niche market?

• Cadbury
• Hotel Chocolat

Who would likely have a higher market share in the chocolate market?

• Cadbury
• Hotel Chocolat

A market is any place that buyers and sellers will come together to exchange goods or services?

• True

• False

What is the formula for Market share?

• Sales of one firm/Total market sales x 100

• Number of units sold x price

• change in size of market / original size x 100