Market

The size of a market cannot be measured in terms of

• Marketing budgets

• Sales Volume

• Sales Revenue

• The number of customers

Market share can be described as

• The number of suppliers in a particular market

• The percentage of total sales in a market that can be attributed to a firm

• The relative size of a particular market

• The total sales, as measured by value or volume, in a market

An advantage of higher market share is that

• It can lead to market leadership

• It requires economies of scale to be earned

• The firm will operate more productively

• There will be less competitors in the market

Consumer markets are the products directly aimed at individuals and households.

• True

• False

Markets can exist without physical location.

• True

• False