MANAGEMENT

Detailed explanation-1: -A growing market share corresponds to growing revenue. That, in turn, means a business can scale up its operations and opportunity for greater profitability.

Detailed explanation-2: -A higher market share usually means greater sales, lesser effort to sell more and a strong barrier to entry for other competitors. A higher market share also means that if the market expands, the leader gains more than the others.

Detailed explanation-3: -selling more to existing customers. focusing your customer service and marketing efforts on retaining customers. expanding your customer base to include similar people who are not currently customers. selling through new channels or into new markets.

Detailed explanation-4: -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-5: -Because market share is a key indicator of market competitiveness, it enables executives to judge total market growth or decline, identify key trends in consumer behavior and see their market potential and market opportunity.