CAIE IGCSE Business Studies 7.1 Marketing Questions
Practise using market-share formulae to define a firm's position and calculate sales value from market data.
- Syllabus
- 2027–2029
- Course
- Business 0264
Exam points
- calculate market share or sales value from total market revenue and a percentage
- define market share as a firm's percentage of total market sales
Covered syllabus points
Question 1
LRL makes skincare products including face cream. It is a private sector business in country X . One of LRL's objectives is to contribute to sustainable development. Maintaining customer loyalty is important and the Marketing Director knows a business must have an appropriate marketing mix. He is analysing data to calculate the value of LRL's market share. An extract is shown in Fig. 3.1. The total value of sales of skincare products in country X for 2023 was $120 million.
Market share data for skincare products in country X in 2023 (\%)
Calculate the value of LRL's market share in 2023.
Working:
Final answer:
Question 2
EQR owns 150 cafes. It sells a range of drinks including coffee. Being ethical is important to EQR. The Managing Director has been analysing EQR's statement of financial position. The business has the objective to increase its 6% market share. The Managing Director plans to grow the business by selling franchises for $ 85000. She is also considering ways to increase added value.
Define 'market share'.
All question bank results loaded