ECONOMICS
ENTREPRENEURS
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Sharing the responsibility for grocery shopping
|
|
|
The percentage of sales earned by a company over a specific period of time
|
|
|
Sharing business resources with another business to keep costs down
|
|
|
A subgroup of a larger market that shares at least one characteristic or need
|
Detailed explanation-1: -What Is Market Share? Market share is the percent of total sales in an industry generated by a particular company. Market share is calculated by taking the company’s sales over the period and dividing it by the total sales of the industry over the same period.
Detailed explanation-2: -Market share is the percentage of an industry’s sales that a particular company owns. Essentially, it is the share of your business’s total industry revenue from selling your products and services. Businesses with larger market shares are industry leaders and competition for smaller companies.
Detailed explanation-3: -The formula for relative market share is: Relative market share = (Market share of company / Market share of top competitor) x 100. If the percentage is low, it usually means there’s a significant difference in market share between the company and the industry leader.
Detailed explanation-4: -Market share refers to the portion or percentage of a market earned by a company or an organization. In other words, a company’s market share is its total sales in relation to the overall industry sales of the industry in which it operates.
Detailed explanation-5: -Market share is the percentage of total sales in an industry or product category that belong to a particular company.