3.2c - Analysing Market Data

Question 1

Sales value formula

Answer 1

Volume X average price

Question 2

Sales volume formula

Answer 2

Value / average price

Question 3

Sales growth formula

Answer 3

((Sales this year - sales last year) / sales last year) X 100

Question 4

Market growth definition

Answer 4

The percentage increase in sales over a period of time

Question 5

Market growth formula

Answer 5

(Change / original amount) X 100

Question 6

Factors influencing market growth:

Answer 6

• Economic growth
• Nature of product
• Changes in tastes
• Social changes

Question 7

Market share definition

Answer 7

The percentage of a market’s total sales achieved by one company

Question 8

Market share formula

Answer 8

(Sales of company / total sales in market) X 100

Question 9

Ways firms can classify markets:

Answer 9

• Geography
• Nature of product (technology, agriculture)
• Seasonality
• Development level (new, growing, saturated)