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Market share, in strategic
management and marketing, is the percentage or
proportion of the total available market or
market segment that is being serviced by a
company.
It can be expressed as a company's sales revenue
(from that market) divided by the total sales
revenue available in that market. It can also be
expressed as a company's unit sales volume (in a
market) divided by the total volume of units
sold in that market.
objective
Increasing market share is one of the most
objectives used in business. The main advantage
of using market share is that it abstracts from
industry-wide macro environmental variables such
as the state of the economy, or changes in tax
policy. According to the national environment,
the respective share of different companies
changes and hence this causes change in the
share market values, reason can be political ups
and downs, any disaster, any happening or miss
happening.
Pricing Objective
Pricing objectives or goals give direction to
the whole pricing process. Determining what your
objectives are is the first step in pricing.
When deciding on pricing objectives you must
consider: 1) the overall financial, marketing,
and strategic objectives of the company; 2) the
objectives of your product or brand; 3) consumer
price elasticity and price points; and 4) the
resources you have available.
Some of the more common pricing objectives are:
1-maximize long-run profit
2-maximize short-run profit
3-increase sales volume (quantity)
4-increase dollar sales
5-increase market share
Marketing Plan
A marketing plan is a written document that
details the actions necessary to achieve one or
more marketing objectives. It can be for a
product or service, a brand, or a product line.
It can cover one year (referred to as an annual
marketing plan), or cover up to 5 (sometimes
referred to as five) years.
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