What is market share and how to calculate it?
Market share means the % of the total market that a company has compared to the competition.
It is generally the percentage of sales that a company has within the industry.
How to calculate it?
Total sales revenue in X time / Total industry sales revenue in X time
Why does it matter?
Because it gives the company an idea of its revenue within the industry and compared to the competition.
In addition, knowing this information we can develop new strategies that make a brand reach more people.