Market share can be the most reliable way of judging the effectiveness of your revenue generation plans. In a study conducted by Harvard University called Profit Impact of Market Strategies (PIMS) project, business scholars identified 37 key profit influences, of which one of the most important is market share. A high market share corresponds to profitability. For example, if a company’s sales for the year is $1 million and the industry’s total sales is $200 million, their market share is. Market share is simply the percentage of sales a company has in the overall market. It can be used to measure the effectiveness of various revenue-generating efforts, from marketing campaigns to product developments, expansion, innovation, branding initiatives, and so much more. Market share is one of the biggest indicators of business success.
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