In business competition for market share is brutal. Sales comes at the expense of other competitors.
What then is market share?
Market share represents the percentage of an industry or market total sales that is earned by a particular company over a specific period.
The market share is calculated by taking the company’s sales over a period and dividing it by the total sales in the industry over a period of time.
The metrics is used to measure the size of a company’s business in relation to the size of the market and competitors.
HOW TO GROW MARKET SHARE
- Strengthening customers relationship
- Acquiring competitors
- New products
- Advertising and aggressive marketing