Starting and running a successful business requires you to attract enough customers with your products and services to generate revenue in excess of your company's expenses. Market share and market penetration are common terms in business management that describe different aspects of the relationship between businesses, their products and services and their consumers. Market share describes the proportion of sales in a given market that a certain company controls. In other words, your company's market share is the percentage of customers that choose to buy your company's products or services.
How to Create a Market Penetration Strategy and Make the Market Play by Your Rules
Market Share Vs. Market Penetration | Bizfluent
Apple accounts for nearly half the 12 million smartwatches shipped during the second quarter, Strategy Analytics reports. The global smartwatch market is experiencing what one analyst called "impressive" growth. And Apple is still leading the way, by a wide margin. Much of that growth is attributable to consumers increasingly accessorizing their smartphones with fitness-focused wearables, Strategy Analytics said. Apple retained its market share crown, boosting its size of the pie from
There are many market penetration examples that have been tried and tested for retail expansion strategies. And the recipe for success is always different. Market penetration can be understood as a strategy to enter into a new market. Professionals from the retail space should always consider applying both definitions to their expansion plans for the best results.