Entrepreneurs everywhere have adopted his vocabulary as well as his methods, including testing their hypotheses with customers and gauging the success of innovation with relevant accounting measurements beyond revenues and market share.
—adam lashinsky, Fortune, "How 'The Lean Startup' Turned Eric Ries Into an Unlikely Corporate Guru,"22 Feb. 2018
Upscale burger chains, such as Shake Shack Inc., also are threatening its market share.
—leslie patton, Bloomberg.com, "Taco Bell Overtakes Burger King as the Fourth-Largest U.S. Chain,"21 Feb. 2018
Toyota remained the state’s leader in market share in 2017, capturing 17.2 percent of all new-vehicle registrations, which included fleet transactions.
—mark glover, sacbee, "California auto dealers had another strong year in 2017; sales top 2 million | The Sacramento Bee,"16 Feb. 2018
Wall Street didn’t applaud; analysts like KBW’s Brian Kleinhanzl predicted the bank would lose more money and market share.
—joseph n. distefano, Philly.com, "Fed piles on Wells Fargo in latest chapter of banker self-destruction,"13 Feb. 2018
When the subject of monopolistic behavior comes up, Amazon’s public-relations team is quick to cite its favorite number: 4 percent—the share of U. S. retail (online and offline) Amazon controls, only half of Walmart’s market share.
—scott galloway, Esquire, "Silicon Valley’s Tax-Avoiding, Job-Killing, Soul-Sucking Machine,"8 Feb. 2018
Quicken has ballooned in size and market share since its founding as Rock Financial in 1985 with three employees.
—deon roberts, charlotteobserver, "Quicken Loans could grow in Charlotte, CEO says,"2 Feb. 2018
Now, as streaming boosts the industry, UMG’s market share and pipeline of hits give Grainge leverage to negotiate key deals with tech companies.
—billboard staff, Billboard, "No. 2: Lucian Grainge | Power 100,"25 Jan. 2018
When Airbus hired Leahy as sales chief for North America in 1985, its market share was just 13 percent.
—dominic gates, The Seattle Times, "Brash Airbus sales chief John Leahy bows out after reshaping the airline industry,"4 Feb. 2018
Definition: A market leader could be a product, brand, company, organisation, group name which has the highest percentage of total sales revenue of a particular market. Market leader dominates the market by influencing the customer loyalty towards it, distribution, pricing, etc.
Description: Market leader can be attributed to a firm which has the largest market share in a given industry. The term could also be ascribed to a firm which has the highest profitability margin as well. The market share is calculated by dividing the volume of goods sold by a particular firm by the total number of units in the market. Market leadership as a concept holds much relevance in the internet age because over a period of time we have seen large number of companies becoming market leaders.
Market leader often enjoys the first -mover advantage in new markets. Let’s look at some examples of market leaders in the digital space. Microsoft was the first company to launch operating system (Windows) and web browser (Internet Explorer) in the market. Apple as a company was the first one to introduce the concept of portable media device in which music can be stored on a drive, ipod. Market leadership is not about sales and dominance but it is more about how relevant the product is for the audience. Apple generates more revenue by selling iPods compared to other manufacturers who are selling MP3 players. It is all about innovative ideas which will help the company to connect with the relevant audience. The company tries to introduce those products in the market which can add value to the customer. Market leaders often unveil products which can redefine the customer experience in terms of product quality, longevity, ease of operating that product etc.
PREV DEFINITIONMarket Development
Definition: Market development is a strategic step taken by a company to develop the existing market rather than looking for a new market. The company looks for new buyers to pitch the product to a different segment of consumers in an effort to increase sales. Description: Market Development is a 2-step process to tap the untapped market. It begins with market research wherein a company does a segmentation analysis and short ists market segments which are worth pursuing. It is an attempt to use the existing product or service to attract new customers. The goal is to expand the reach or tap into a different segment or unexplored market. A segment is defined as the small sub-group of a larger population. For example, the marketing team of the company can divide the market based on geography, demographics as well as income levels etc. Once the company decides which segment to choose, the next step of market development involves creating a promotional strategy to enter into the market. For that, companies may have to take the support of both audio and visual media to push the product deeper into the market. Another aspect is the pricing of the product. If there are competitors in the market, you may have to price the product accordingly or come out with a product which belongs to the same segment but differs in features, quality etc. to command higher pricing. To counter competition, the marketing team could look at the penetration pricing where you can aggressively price the product below competitors product to gain market share. The major challenge faced by firms, which want to indulge in market development, is that it is a costly affair. It requires huge capital investment to keep the project going. If the investment in the new segment doesn’t pay off as desired, then the whole exercise turns out to be worthless.Read More
NEXT DEFINITIONMarket Share
Out of total purchases of a customer of a product or service, what percentage goes to a company defines its market share.Read More