What is Market Share ?
Market share is the percentage of a company's revenue that it commands in its market, as opposed to its total revenue.
Market share is an important metric that helps companies assess their performance in relation to their competitors. Market share strategies can be used as a tool to increase market share and/or profitability.
A common strategy that companies use to increase their market share is by offering a product at a lower price than competitors. This strategy has been used by many companies in order to gain more customers, such as Procter & Gamble, which offers its products at lower prices than its competitors in order to gain more customers.
Frequently Asked Questions For Market Share
What is meant by market share?
Market share refers to the percentage of customers who have bought a product or service from a company. A company with a high market share means that its products are trendy amongst consumers.
Why is market share important?
Market share is significant because it can help us determine if our product or service will be successful in the future since you can see if your target audience responds positively to it.
What is the formula of market share?
The formula for market share is the number of customers a company has divided by its total number. So, for example, if a company has 100 customers, it should have 100% market share. For example, if a company has 1 million users on Facebook and 5 million users on Twitter, it should have a 5% market share on Facebook and 2% on Twitter.