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and NICHE MARKETING
MARKET SHARE
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MARKET SHARE
The percentage of an industry or market's total sales that is earned by a particular company over a specified time period.
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.
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HOW MARKET SHARE WORKS
Market Share = (Particular Company's Sales Revenue in Time Period X) / (Relevant Market's Total Sales Revenue in Time Period X)
Let's assume Company XYZ sells $50 million a year in widgets. If the total amount of widgets sold from all companies within the market totals $100 million, then Company XYZ has a market share equal to 50%.
Market Share = ($50 million) / ($100 million)
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WHY MARKET SHARE MATTERS
As the market for a good or service grows, many analysts view the maintenance or increase in market share as a sign of a company's competitiveness. Increases in market share might come from innovation, broadening demographic appeal, lower prices, or simply advertising.
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COMPETITION
The struggle between companies for customers
Why do you want to know about your competition’s market share?
How do you identify your competitors?
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NICHE MARKETING
Concentrating all marketing efforts on a small but specific and well defined segment of the population.
Examples ESPN, STAR Sports – target a niche of sports
lovers Aeropostale, MTV – targets youth Glamour magazine, Lifetime TV– targets
women
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MASS MARKETING
An attempt to appeal to an entire market with one basic marketing strategy utilizing mass distribution and mass media.
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MASS MARKETING VS. TARGET MARKETING
WHY?