Week 6 Discussion- Marketing for Competitiveness

Marketing for Competitiveness

Week 6 Decision

Market Share Approach

Because market share is a key indicator of market competitiveness, it enables executives to judge total market growth or decline, identify key trends in consumer behavior, and see their market potential and market opportunity. Companies can increase their market share through a number of means, including building stronger customer relationships, purchasing their competitors, and pursuing innovative practices. Using these resources, you will explore the market share approach and market share analysis.

· Positive Revolution. (2017, September 18).  How to create the mindshare before the market share?  Links to an external site.  [Video]. YouTube. https://www.youtube.com/watch?v=fHRJUyLgtG8

· RevLocal. (2019, August 20).  Ep 14 – What is market share?  Links to an external site.  [Video]. YouTube. https://www.youtube.com/watch?v=O2jqDi8aiz8

· Riserbato, R. (2021).  What is market share and how do you calculate it?Links to an external site.   HubSpot . https://blog.hubspot.com/marketing/how-to-calculate-market-share

· Tutor2u. (2016, April 10).  Marketing: Calculating market share  Links to an external site.  [Video]. YouTube. https://www.youtube.com/watch?v=7XifAlvu7-k

Market Share Strategies

The most effective strategy for market-share gain is product innovation. A company can also expand its market share by lowering its prices, strengthening customer relationships, advertising, and increasing quality. Through these resources, you will examine market share strategies.

· Carmichael, K. (2020, February 14).  5 ways to increase your market shareLinks to an external site. .  HubSpot . https://blog.hubspot.com/marketing/how-to-increase-market-share

· Cobley, D. (2010, July).  What physics taught me about marketing  Links to an external site.  [Video]. TED Conferences. https://www.ted.com/talks/dan_cobley_what_physics_taught_me_about_marketing?language=en

· Kramer, L. (2019, July 7).  What strategies do companies employ to increase market share?  Links to an external site.  Investopedia. https://www.investopedia.com/ask/answers/031815/what-strategies-do-companies-employ-increase-market-share.asp