Category

MARKETING

Category

Understanding how to calculate market share of your business should be your most important goal if you’re running a business, or thinking of starting one. If used correctly, market share can give you a lot of understanding on your current standing as a business, and can also enable you to set a direction of where you want to take your business. Think of it as one of the tools used for self-analysis. Why is it it important? It’s important because it is the fundamental determinant of how your business is performing in the market against your competitors, what are the opportunities to grow, where can you source more business from, what is the value of you business, and a lot more. Market Share Calculation Calculating market share is simple, but you need to understand the context you’d be looking at market share in, and you need to be relevant. Also, there can be a…