What is market share? The concept of Market Share in Marketing

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Let's find out all the information about the term Market Share in the field of marketing and business such as: What is market share ? How to calculate market share? What is relative market share? What is the role of market share in business growth? What factors influence a brand's market share? and more.

What is market share?
What is market share? The concept of Market Share in Marketing
Market share is a concept that Denmark Phone Number List describes the size or coverage of a particular brand, product or service in a given market. Market share is the percentage that a brand has in the market. For marketers and business people, expanding market share is the top goal since its appearance in the market.



The contents that will be analyzed by MarketingTrips in the article on the topic of market share include:

What is market share ?
What is relative market share?
Understand the concept of Market Share.
Some key points to keep in mind when learning about the term market share.
What is the role of market share in brand growth?
How market share affects the business.
What are the formulas or ways to calculate market share?
Difference between the concept of Market Share and Market.
What are the key strategies brands can use to build market share?
Some examples of brands' market share.
FAQs – Frequently asked questions about market share.
Below are the details.

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What is market share?
Market share in English means Market Share .

In the context of marketing and business, Market share is a concept that refers to the percentage of total sales (or volume) of sales of a particular product, brand or business in a category (industry). ) specifically.

Market share is calculated by dividing the total sales of a product or business in a given period by the total sales of the entire industry during the same period.

For example, if Apple sells 50% of the iPhones to the smartphone market in 2021 compared to the total number of smartphones sold in the same market, it can be said that the iPhone has a 50% market share. of the smartphone market in 2021.

In fact, the iPhone's market share accounts for an average of 15% of the global smartphone market.

The concept of market share is used to denote the size or magnitude of a brand or business in relation to the overall market and existing competitors in that market.

The brand or business with the largest market share in the industry is called a "Market Leader", which means "Market Leader".

What is relative market share?
Relative market share is a concept that describes the market share of a certain firm relative to another larger (largest) company in the same industry.

The main goal of businesses when calculating relative market share is that they want to know where they are compared to the top competitors.

Understand the concept of Market Share.
The market share of a business, as the term or name implies, is the fraction of total sales (output) in the market or industry in which the business operates.

To calculate the market share of a business or product, the first thing to do is determine the time period or period you want to test. It can be a quarter, a year or many years depending on the measurement needs of each business.

Next, calculate the total revenue or sales volume of the business for that period. Then find out the total revenue of the entire industry in which the business operates.

Finally, divide the total revenue of the business itself by the total revenue of the entire industry (including competitors in the same industry).

For example, if a certain F&B business has sold 100 million USD in sales of carbonated soft drinks (soft drinks) in 2021 and the total sales of the entire beverage industry in this year in Vietnam is $1 billion, the market share of this business would be 100,000,000/1,000,000,000 = 10%.

In fact, the concept of market share is often only interested or calculated by large enterprises, global enterprises doing business in many different markets or geographical areas.

Small businesses are rarely concerned with market share, but only with the rise and fall of sales (compared to the business itself from time to time or compared to a competitor with similar sales.)

You can obtain market share data from a variety of independent sources, such as trade organisations, market research firms , regulatory agencies, or businesses themselves; however, certain sectors will be more difficult to measure accurately in terms of market share than others.

Market Share and Market.
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As you can see, even the nature of the words is different. Market share is Market Share and Market share is Market .

While market share refers to the size of a particular product or business, it is a percentage, the term market has a general meaning.

The market is a large concept that includes many businesses with different levels of market share, they are the elements that exist in the market.