Marketing: Difference between revisions
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'''Market share''' is defined as the proportion of total sales in a particular market for which one or more businesses or brands are responsible. It is expressed as percentage and can be calculated by value or volume. | '''Market share''' is defined as the proportion of total sales in a particular market for which one or more businesses or brands are responsible. It is expressed as percentage and can be calculated by value or volume. | ||
In the case of Kos, it can be related with the dining hall, since what he sells then he divided by the number of customers in order to identify his market share. In the other hand, it can be related to the hospital and university according to the preferences of the citizens of Loyka. (potential market share) | *In the case of Kos, it can be related with the dining hall, since what he sells then he divided by the number of customers in order to identify his market share. In the other hand, it can be related to the hospital and university according to the preferences of the citizens of Loyka. (potential market share) | ||
The '''Market size''' can be estimated or calculated by the total sales of all businesses in the market. In the form of value, which is the total amount spent by customers buying products, or in the form of volume, which refer to the physical quantity of products which are produced and sold. | The '''Market size''' can be estimated or calculated by the total sales of all businesses in the market. In the form of value, which is the total amount spent by customers buying products, or in the form of volume, which refer to the physical quantity of products which are produced and sold. | ||
In this case, either the hospital or the university can achieved market size in the form of what the Loykese choose. Kos can obtain market size in the form of value, depending in the amount of products that he sells to its customers in the dining hall. (exist regarding market share) | *In this case, either the hospital or the university can achieved market size in the form of what the Loykese choose. Kos can obtain market size in the form of value, depending in the amount of products that he sells to its customers in the dining hall. (exist regarding market share) | ||
'''Market growth''' can be either rapidly or slowly, or they might contract and get smaller. | '''Market growth''' can be either rapidly or slowly, or they might contract and get smaller. | ||
In the case of Kos, he could either expand his business and increase market or continue operating in the same form (dining hall, HORIZONTAL). Making reference to the hospital or university, they could increase market growth in the form of hiring more doctors or teacher (according to the project choose), since the citizens of Loyka would agree to apply in the projects. | *In the case of Kos, he could either expand his business and increase market or continue operating in the same form (dining hall, HORIZONTAL). Making reference to the hospital or university, they could increase market growth in the form of hiring more doctors or teacher (according to the project choose), since the citizens of Loyka would agree to apply in the projects. | ||
A '''market''' is any set of arrangements that allows buyers and sellers to exchange goods and services. '''Marketing''' is not just selling products, but to carry out a range of activities to find out customers preferences, including market research. | A '''market''' is any set of arrangements that allows buyers and sellers to exchange goods and services. '''Marketing''' is not just selling products, but to carry out a range of activities to find out customers preferences, including market research. | ||
Effective marketing will have certain features, in which building relationships with customers is included; customers as a result of marketing are likely to develop a favorable view of the business. | ''Effective marketing'' will have certain features, in which building relationships with customers is included; customers as a result of marketing are likely to develop a favorable view of the business. | ||
One of General Diane Pierce main objectives was based on her previous experience in social marketing, which was to improve the image of the “Olive Hats” in Loyka (36). For this to be achieved she believed the creation of a university of a hospital would be useful, as it will allow the Loykese to see a benefit from the presence of the “Olive Hats” (56). | One of General Diane Pierce main objectives was based on her previous experience in '''social marketing''', which was to improve the image of the “Olive Hats” in Loyka (36). For this to be achieved she believed the creation of a university of a hospital would be useful, as it will allow the Loykese to see a benefit from the presence of the “Olive Hats” (56). | ||
== Purpose of marketing == | == Purpose of marketing == | ||