Simple
Refers to an increase in the size of a market, usually measured by the rise in total sales revenue of the market or industry.
What is Market Growth
Refers to the business with the largest market share in a given industry.
What is the Market Leader
These are the things people need in order to survive, e.g., food, water, and shelter.
What are Needs
This is an approach to marketing that focuses on meeting the specific demands (desires and needs) of customers and potential customers.
What is Market orientation
Refers to the sales revenue that an organization accounts for within a given market or industry. It is measured by expressing the firm’s sales revenue as a percentage of the whole industry’s sales revenue.
What is Market share
These are the goals or targets that a business organization strives to achieve, such as growth, profit, higher market share, improved shareholder value.
What are Objectives (Business objectives)
The total number of individual customers or the total value of sales revenue in a certain market.
What is the Market Size
The management process of identifying, anticipating, and satisfying customer requirements in a profitable way. It is the art of determining the goods and services required to meet the needs and wants of customers in a sustainable way.
What is Marketing
This is an approach to marketing that focuses on making products a business knows how to make well, rather than primarily concentrating on the needs and desires of potential customers.
What is Product orientation
Refers to a firm's income from selling its goods and/or services, i.e., the value of its sales.
What is Sales Revenue
Refers to the volume (quantity) of sales of a particular business.
What is Sales Volume
These are human desires, i.e., things that people would like to have, or have more of.
What are Wants