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Direct Hit

Unit 4 - Marketing

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Chart Increasing

Unit 1 - Introduction To Business Management

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Briefcase

Unit 2 - Human Resource Management

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Money Bag

Unit 3 - Finance & accounts

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Factory

Unit 5 - Operations management

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Bar-Chart

Unit 6 - Assessment

<ul>
	<li>It&#39;s like seeing more and more people in a concert every year! 🎤</li>
	<li>Technically, it&#39;s the increase in the number of folks buying a good or service over a period (usually a year).</li>
</ul>

<ul>
	<li>Think of it as the entire concert hall, filled with fans! 🎶</li>
	<li>It&#39;s the total sales by every business in a market.</li>
	<li>Fun Fact: You can measure market size by value (💲) or by how many products were sold (volume).</li>
</ul>

Imagine we&#39;ve 3 rock bands in a concert (market):

<ul>
	<li>Firm A: Ticket sales were $20 million first year, and they became more popular with $22 million the next.</li>
	<li>Firm B: Rocked the stage with $28 million in ticket sales the first year, and $32 million the next!</li>
	<li>Firm C: Started with $14 million in sales, then upped their game to $16 million.</li>
</ul>

Combine all their sales! 🎟️

Year 1: $20M + $28M + $14M = $62 million Year 2: $22M + $32M + $16M = $70 million

Get ready for some math magic! ✨

<code>market growth (%) = (market size year 2 - market size year 1) / market size year 1 &times; 100</code>

Example 1: Using our concert bands

= ($70M - $62M) / $62M &times; 100 = 12.9%

Example 2: Imagine TV sales

= ($80M - $50M) / $50M &times; 100 = 60%

<ul>
	<li>hey&#39;ve exploded in sales over the years.</li>
	<li>Why? They&#39;re like mini-computers in our pockets! We use them for everything!</li>
	<li>More and more companies want a piece of the pie because 💰.</li>
	<li>But wait! Growth isn&#39;t magic. It&#39;s influenced by things like:
	<ul>
		<li>How well the economy is doing 📊</li>
		<li>Technological improvements (like going from a brick phone to a smartphone) 🛠️</li>
		<li>Changes in what we like and can afford 💸</li>
	</ul>
	</li>
</ul>

✨ Recap: Market growth is how much a market expands over time. It&#39;s calculated by looking at the difference in market size between two time points. It&#39;s super important for businesses because it shows potential profit opportunities!

 
Happy studying, young entrepreneur! 🌟🎓🚀

Unlock Market Growth Secrets: A Step-By-Step Guide To Calculating Profitable Growth

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Higher Level

Business Management HL

Unit 4 - Marketing

Unlock Market Growth Secrets: A Step-By-Step Guide To Calculating Profitable Growth

Table of content

What's market growth? 🤔

And... market size? 🌍

Calculating market size? 🧮

Unlock the Full Content!

Unit 4 - Marketing

Unlock Market Growth Secrets: A Step-By-Step Guide To Calculating Profitable Growth

Table of content

What's market growth? 🤔

And... market size? 🌍

Calculating market size? 🧮

Unlock the Full Content!