Market SHARE
Market share is the percentage of a company’s sales or revenues from total sales or revenues in an industry. Market share is an important indicator of a company’s competitiveness and success in the marketplace. Companies can increase their market share by expanding their product offerings, improving the quality of their products and services, attracting new customers, and retaining existing customers.
There are several ways to increase market share. For example:
Expanding the range of products and services
Improving the quality of products and services
Attracting new customers through marketing and advertising
Retaining existing customers through loyalty programs and customer service
Expanding geographic coverage and entering new markets
Reducing prices or offering special promotions and discounts
Innovating and implementing new technology Which of these ways do you feel is most appropriate for your business?
