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Market share is the percentage of the total revenue or sales in a market that a company's business makes up. For example, if there are 50,000 units sold per year in a given industry, a company whose sales were 5,000 of those units would have a 10 percent share in that market. "Marketers need to be able to translate sales targets into market ...
Market penetration refers to the successful selling of a good or service in a specific market. It involves using tactics that increase the growth of an existing product in an existing market. [1] It is measured by the amount of sales volume of an existing good or service compared to the total target market for that product or service. [2]
Market concentration is the portion of a given market's market share that is held by a small number of businesses. To ascertain whether an industry [2] is competitive or not, it is employed in antitrust law [3] and economic regulation. When market concentration is high, it indicates that a few firms dominate the market and oligopoly [4] or ...
Market penetration is a growth strategy where an organization aims to expand using its existing offerings (products and services) within current markets. In simpler terms, it seeks to increase its market share in the existing market landscape. It involves attracting new customers, retaining existing ones, or acquiring competitors to capture ...
Marketing Management is a combined effort of strategies on how a business can launch its products and services. On the other hand, Marketing strategy is the combination of many processes where the business owner or marketer can attract potential customers via several channels. It can be through offline channels or online channels.
Serviceable obtainable market (SOM), share of market, or Target Market, is the percentage of SAM which is realistically reached. [ 2 ] For example, the total UK consumer expenditure on food in 2014, which is the total addressable market of food, was £198 billion (including catering, alcoholic drinks, non-alcoholic drinks and other foods). [ 3 ]
It also seems to increase its market share to launch a new product that helps the particular company to earn profit. For instance, the addition of tomato ketchup and sauce to the existing "Maggi" brand processed items of Food Specialities Ltd. is an example of technological-related concentric diversification.
The result is proportional to the average market share, weighted by market share. As such, it can range from 0 to 1.0, moving from a huge number of very small firms to a single monopolistic producer. Increases in the HHI generally indicate a decrease in competition and an increase of market power, whereas