Market Share
Definition
Market Share is the portion of a market controlled by a particular company or product.
Benefits
Knowing your market share helps in strategic planning, competitive analysis, and identifying growth opportunities.
Frequently Asked Questions
What is a good market share? A good market share varies by industry, but generally, a higher market share indicates a stronger competitive position.
How do you calculate the market share? Market share is calculated by dividing a company’s sales by the total sales of the market, then multiplying by 100 to get a percentage.
Why measure market share? Measuring market share helps businesses understand their position in the market, assess competition, and inform strategic decisions.
Summary
Market share is a crucial metric for understanding a company`s position in the market, informing strategic decisions, and driving growth.