The market

5 flashcards · Other · by Addaneye

1. Mass market definition

   a very large market in which products with a mass appeal are targeted

2. Niche market definition

   A specialised market for particular goods or services targeted at people with specific needs

3. Market share formula

   (Sales of a business / Total sales in the market) * 100

4. Dynamic markets definition

   Markets that tend to change over time

5. Difference between risk and uncertainty

   Risk is quantifiable while uncertainty implies a situation where the outcome is unknown