Total market share can significantly impact a product's success. A higher market share means a product is performing well against its competitors, indicating strong customer preference and loyalty. This can lead to increased profitability, as a larger market share often allows for economies of scale and increased bargaining power with suppliers and distribution channels. However, it's also important to consider relative market share, which compares the product to the industry leader.
Has your business growth reached a plateau? Use our Growth Strategy Toolbox to test, execute, and sh...
Download template