In addition, there are different types of market share and target values to aim for, and you also need to know how to calculate them in order to understand the target value.
This time, we wil l italy cell phone number list explain the types of market share, the target values you should aim for, and how to calculate them, so please refer to it.
A marketing strategy that leverages market share will lead to high-quality leads , so it's a must-see.
Table of Contents [Hide]
1. What is market share?
2. Types of Market Share
3. Market share target value
4. How to calculate market share
5. Situations when market share should be considered
6. Understand your market share and develop your business strategy!
7. Summary
What is market share?
Market share refers to the percentage of the market that a company's products or services occupy.
In addition, in some cases, market share is calculated based not only on sales but also on the number of units sold and the sales weight.
Moreover, market share also serves as a guideline for how a company should operate and helps differentiate itself from other companies.
When considering market share, be sure to also understand the market size using TAM, SAM, and SOM .
Increase your market share with the right lead generation strategies
How to choose a lead generation strategy
In recent years, with the advancement of IT, attention has been focused on B2B marketing, which allows products and services to be promoted and sold efficiently to a large number of companies .
On the other hand, with the diversification of methods and technologies,
many people may not know where to start. Therefore, this document explains the important lead acquisition measures
for customer acquisition .
Types of Market Share
There are two main types of market share: absolute market share and relative market share.
However, in some cases, absolute market share is further divided into total market share and target market share.
Depending on how you plan to sell your products or services, you will need to use both the total market share and the target market share in your analysis.
It is important to decide which type of market share to refer to depending on the content of your company's products or services and your sales targets.
There are two main types of market share:
Absolute Market Share
Relative Market Share
Absolute Market Share
Absolute market share indicates the percentage of the market that a company's products or services account for, and is an indicator of how much market share the company has captured.
The absolute market share of each company will greatly affect its influence and relevance to the market as a whole.
Please note that even when talking about absolute market share, the market percentage can change depending on the situation, whether it is the share of the overall market or the share of the target market.
Absolute market share can be divided into two categories:
Total market share
Target market share
Total market share
Among absolute market share, the total market share indicates what percentage of the total market sales your product or service accounts for .
One thing to note is how you define sales; in some cases it is defined as the number of units sold, while in other cases it is defined as the sales amount.
It is important to identify the market in which you want to gain market share.
Target market share
Among absolute market shares, the share of a target market refers to a market that is defined by specific conditions .
Specific conditions include age and region; for example, a product aimed at children may have a high market share among children, but a low market share among adults.
It is important to set it up to match the characteristics of the products and services you are selling.
Relative Market Share
Relative market share tells you what percentage of your company's product or service's absolute market share is compared to the absolute market share of other companies' products or services.
Comparing yourself to others will give you an idea of how much influence you have in the market.
Also, by calculating and understanding your relative market share, you can see how much sales you have in relation to the sales of larger companies.