What is MARKET GROWTH?

Particular product’s or service’s increased demand, tracked over time. If consumers have no high demand, growth is slow or stagnant. If consumers develop product or service loyalty at a specific price level, growth increases. A new technology might initially only be marketable to a small set of consumers at a particular price. But, as the price decreases, demand likely increases as more and more consumers find increasing use in everyday life.

More On This Topic




Link to This Definition

Did you find this definition of MARKET GROWTH helpful? You can share it by copying the code below and adding it to your blog or web page.
Written and fact checked by The Law Dictionary