GK
BUSINESS MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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the percentage of total sales of product that is sold by a company in the marketplace
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the same thing as a share of stock
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like a ride share but for businesses
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how much you can change your prices when demand changes
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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: -A company’s market share is its sales measured as a percentage of an industry’s total revenues. You can determine a company’s market share by dividing its total sales or revenues by the industry’s total sales over a fiscal period. Use this measure to get a general idea of the size of a company relative to the industry.
Detailed explanation-3: -Definition: Out of total purchases of a customer of a product or service, what percentage goes to a company defines its market share. In other words, if consumers as a whole buy 100 soaps, and 40 of which are from one company, that company holds 40% market share. Description: There are various types of market share.
Detailed explanation-4: -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-5: -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.