Henry Replies

Hello Henry,

This is a great post. I realize how important brand share is to businesses. For businesses to appear in relevant product searches on marketplaces and subsequently increase brand share, they require quick and accurate price intelligence. Making informed decisions requires the use of company and brand share data together with market size and industry projections. A brand owner is aware of the state of his or her own brands, but it is important to compare this data to that of the rivals. Brand share is the portion of sales in a particular product category that can be attributable to a single brand (Grabowski et al., 2021). The most straightforward solution is to stock the most alluring products and provide them at pricing that tempt customers to check out. Your technique may vary depending on the marketplaces where you both sell, but at its core, this is what you should do. But coming up with the best-in-class collection is difficult. To separate the long-term winning goods from transient trends, mountains of data are needed. The first step to building your own brand share plan is gaining access to this assortment data. It reveals which goods perform best in markets that are most closely related to your current product line.

References

Grabowski, H., Long, G., Mortimer, R., & Bilginsoy, M. (2021). Continuing trends in US brand-name and generic drug competition. Journal of medical economics, 24(1), 908-917. https://www.tandfonline.com/doi/abs/10.1080/13696998.2021.1952795