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Comparing a product's market share to top competitors is significant as it provides a quantitative measure of how well the product is performing in the market. It allows businesses to understand their position in the market and identify areas for improvement. It also helps in strategic planning, as businesses can identify trends and make informed decisions about product development, marketing strategies, and resource allocation.
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The table on the left provides more quantitative context to back up the matrix and assess the four product lines along with market growth, total market share and relative market share. While total market share compares the product against top competitors, relative market share compares the product to the industry leader. (Slide 8)
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Has your business growth reached a plateau? Use our Growth Strategy Toolbox to test, execute, and share new growth strategies across the team. Compani...
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