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Market - Coggle Diagram
Market
Types of Market
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Dynamic
These markets change and adapt constantly and requires businesses in them to not be complacent (EG, AI, medicine, tech etc)
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Competitive
If a market is competitive then businesses fights for a small amount of customers, this normally happens in big markets (eg: AI, video games, films etc)
Mass Market
These are markets that are for the general consumer, usually markets for products or services a lot of the general population want and/or need
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Niche Market
A niche market is a type of market that is generally more forces in a specific customer base that usually solves a problem that customers have or are just aimed at a specific audience
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Market Growth
This is how the market is doing compared to previous times (like years, months or even days) (usually done by comparing market sizes)
Formula:
(Market size of x time X x% = Market size of other time.) -100 (yeah I do this a weird way but trust the process!)
Market Size
Market Size is the overall amount of the market in terms of the sales of the market. It can’t be measured in volume and value.
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