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While "market share" may be defined as "the percentage of a market accounted for by a specific entity", [1] the measure may also be divided into two types: "Unit market share: The units sold by a particular company as a percentage of total market sales, measured in the same units." [1]
Market share analysis is a part of market analysis and indicates how well a firm is doing in the marketplace compared to its competitors.. Givon, Mahajan, and Muller have researched spreadsheet and word processing software firms to give a clearer image of how to determine market share in the software industry.
Market research is a way that producers and the marketplace study the consumer and gather information about the consumers' needs. There are two major types of market research: primary research, which is sub-divided into quantitative and qualitative research, and secondary research. Factors that can be investigated through market research include:
Market research about market structures and processes must be done to define the “relevant market”. The relevant market is an integral part of the whole market, on which the company focuses its activities. To identify and classify the relevant market, a market classification or segmentation has to be done. [3]
Market pressures are similarly evolving therefore when decision making based on market performance it is essential to assess all the circumstances affecting competition rather than rely solely on measures of market structure. Using a single measurement of market share can be misleading or inconclusive as only indicators are taken into account. [18]
Relative market share correlates positively (explains approx. 12 %): The main reason for the positive influence of the relative market share is the economies of scale: The higher the market share, the larger the production volume and the lower the unit costs; this can also be explained by the experience curve.
Image source: Getty Images. 1. Pfizer. Pfizer (NYSE: PFE) makes a great recovery-story buy today. The big pharma company saw annual revenue soar to a record $100 billion in earlier pandemic days ...
The marketing research process is a six-step process involving the definition of the problem being studied upon, determining what approach to take, formulation of research design, field work entailed, data preparation and analysis, and the generation of reports, how to present these reports, and overall, how the task can be accomplished.