Which measure expresses a firm's sales as a percentage of total sales in the relevant market?
Correct answer: D. Market share
- A. Customer retention rate
- B. Sales turnover
- C. Profit margin
- D. Market share
Explanation
Market share is the firm's sales divided by total market sales, usually expressed as a percentage. Profit margin measures profitability, not the firm's relative position in the market.
Report an error
The more specific you are, the faster it gets fixed. A source beats an opinion.
Prefer email? [email protected]
About Marketing
Marketing covers how organisations identify customer needs, create value and exchange products or services through suitable markets. Key concepts include market segmentation, targeting, positioning, consumer behaviour, the marketing mix of product, price, place and promotion, branding, product life cycle and differences between marketing and selling.
Practise Marketing
1,700 free Marketing MCQs from Management Sciences, each with the correct answer and an explanation. Unlimited attempts, no account needed.
Discussion
Stuck on an option, or know a faster way to get there? Ask or explain it here.
No comments yet. Be the first to explain this one.
Exams that ask Management Sciences questions like this
Management Sciences is on 2 papers prepared for on TestUstad, and all of them draw the same bank, so this question is worth knowing for every one of them.
More Marketing questions
A product has reached a mature market, but the firm seeks new uses and new customer groups to extend its sales. This approach is known as:
A company sends personalised promotional messages to selected customers through email and postal mail, inviting them to respond directly. Which promotional method is illustrated?
In the Ansoff matrix, introducing a new product to a firm's existing market is called:
A business sells machinery to factories, and the purchasing decision is made by a committee representing production, finance and procurement departments. This market is best described as:
For a marketing exchange to take place, each party must generally:
Making a product available at the time when consumers need it creates which type of utility?