Key Terms from Page 239
Market share - The market is defined as all consumers who use a type of product, for example breakfast cereal. The market share is the percentage of those consumers who use a particular brand (for example, Nestle Cheerios is more popular than Kellogg's Frosted Flakes). The brand that has the largest market share is usually the most associated with the product.
Market research - The activity of gathering information about audience needs and preferences, conducted by a media producer or institution. This data is then used to target appropriate marketing and advertising at clearly defined audiences.
Brand awareness - The aim of most advertising is to ensure that an audience come to associate your brand with a specific product. The audience/consumer becomes bran aware and will, generally, choose this brand over others.
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