Course glossary

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Here are some worlds which should be familiar for you till the end of the course, try to cover them when you will have free time.


Browse the glossary using this index

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M

Macroeconomics

This is a part of economics that seeks to simplify and show the progress of whole economies rather than focus on individuals or groups (which is microeconomics).

Margin

A profit margin is how much money a company made. For example, a gross profit of £1m on sales of £10m is a 10% profit margin. Companies can compare profit margins with others to see how they are doing.

Market segmentation

A market segment is a division of a market with similar characteristics (e.g. age, gender, religion) that cause them to demand similar products and/or services. For example, in an area with a large Jewish community, kosher foods are likely to be in greater demand.

Market share

The percentage or portion of the overall market controlled by one company.

Marketing mix

The combination of marketing elements used by a company to encourage consumers to purchase its product or service. Also known as the seven Ps: product, price, promotion, place, people, process, physical evidence.

Merger

When two or more companies are combined into one.

Microeconomics

This is a part of economics that concentrates on the actions of individuals and groups, rather than of whole economies (which is macroeconomics).