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All 20 Flashcards — Market and market share
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Question
Market size by value vs volume?
Answer
Value = total $ revenue. Volume = total units sold.
💡 Hint
$ vs units
Question
State the market share formula
Answer
(Company sales ÷ Total market sales) × 100
💡 Hint
Company/Total × 100
Question
Market share formula?
Answer
Market share (%) = (Company sales ÷ Total market sales) × 100
💡 Hint
Company / Total × 100
Question
What is a market?
Answer
Any place where buyers and sellers meet to exchange goods/services — physical or online.
💡 Hint
Buyers + sellers meet
Question
Company $15m, market $60m. Share?
Answer
($15m ÷ $60m) × 100 = 25%
💡 Hint
15/60 × 100
Question
What is market share?
Answer
One company's sales as a percentage of total market sales.
💡 Hint
Company / total × 100
Question
A market = where ___ and ___ meet
Answer
Buyers and sellers — to exchange goods or services.
💡 Hint
Buyers + sellers
Question
Growing markets offer what?
Answer
Opportunities for expansion — more potential customers and sales.
💡 Hint
Opportunity to grow
Question
Market share by value or by ___?
Answer
Volume (units sold) — question will specify which.
💡 Hint
Volume
Question
What is market size?
Answer
Total value ($) or volume (units) of sales in a market.
💡 Hint
Total $ or units
Question
Declining markets mean what?
Answer
Fewer customers, tougher competition, harder to grow.
💡 Hint
Less demand
Question
Growing market share signals?
Answer
Competitive advantage — gaining ground on rivals.
💡 Hint
Gaining ground
Question
Why does market share matter?
Answer
Shows competitive position — growing = advantage, falling = losing to rivals.
💡 Hint
Competitive indicator
Question
Can you grow share in a declining market?
Answer
Yes — by taking customers from competitors even as overall market shrinks.
💡 Hint
Steal share from rivals
Question
What is the market leader?
Answer
The business with the largest market share.
💡 Hint
Biggest share
Question
Market size measured by ___ or ___
Answer
Value ($) or volume (units).
💡 Hint
Value or volume
Question
Advantages of being market leader?
Answer
Higher prices, more investment, stronger brand recognition.
💡 Hint
Price + investment + brand
Question
Quick: Market share by value or ___?
Answer
Volume — read the question carefully!
💡 Hint
Volume
Question
Why monitor market growth trends?
Answer
To plan ahead — invest in growth, change strategy in decline.
💡 Hint
Future planning
Question
Market $500bn, company sells $100bn. Share?
Answer
($100bn ÷ $500bn) × 100 = 20%
💡 Hint
100/500 × 100
Read the notes
Full study notes for Market and market share
Topic 4.1 hub
Introduction to marketing
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