Edexcel AS Level Business: 1.1.1 the market Worksheet

Write a definition of niche markets here:

__________________________________________________________________________________

Write a definition of mass markets here:

__________________________________________________________________________________

_________________________________________________________________________________

111 The Market

Divide up this circle with as many watch brands as you can think of, use research and ideas from others to

complete the diagram

Mass market characteristics

__________________________________________________________________________________

Mass Markets

Pros Cons

Mass market brands

________________________________________

Niche market characteristics

__________________________________________________________________________________

Niche Markets

Pros Cons

Niche market brands

________________________________________

Mass or niche markets?

Market size

1.______________________________________________________________________

2._____________________________________________________________________

Market share

__________________________________________________________________ x100

Write a definition of a dynamic market here:

__________________________________________________________________________________

Dynamic markets and online retailing

__________________________________________________________________________________

Advantages and disadvantages of online retailing

Advantages Disadvantages

Market growth

• With dynamic markets, comes constantly changing

________________________ tastes and ___________________________________

• Products not used widely 20 years ago:

• Internet

• Mobile Phones

• PC _____________________ for home use

• Computer games / games _______________________

• Technology is a massive ____________________________ market, consider

how many of these items are in most UK households now

• For example, the increase of ___________________________ to the UK has

increased the need for speciality meats such as Kosher and

________________. These are growth markets and great

_____________________________ for business

Competition and the market

• Very competitive markets benefit the consumer in a number of ways:

Homogenous markets

__________________________________________________________________________________

The difference between risk and uncertainty

Risk Uncertainty

Edexcel AS Level Business: 1.1.1 the market Worksheet

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