CH.4.1
Market Orientation
a business approach that prioritizes understanding and meeting customer needs to build long-term relationships.
If a company sold 25,000 units in a market of 200,000 units, what is its market share? Show the numeric percent and one-sentence implication.
25,000/200,000×100=12.5% Implication: The firm holds a modest portion of the market and has room to grow or defend against rivals.
Market Leadership
Firm with the largest share or dominant influence in a market, often setting standards or prices.
What is the benefit of market segmentation
THE PROCESS OF GROUPING CUSTOMERS INTO MARKET SEGMENTS ACCORDING TO THE BENEFITS THEY SEEK FROM THE PRODUCT.