Market share

A market share is the percent of total sales in an industry generated by a specific company. It’s calculated by factoring in the company's sales over a particular period, dividing it by the industry's total sales over the same time frame, and multiplying it by 100. Here’s how it’s expressed in a formula:

(Brand’s sales / Industry’s sales) * 100 = Market share

The higher the market share, the more sales a company has made in their industry. A company can gain market share through different marketing strategies, including lowering prices to attract more customers, increasing the quality of goods and services, and generating effective advertising campaigns.