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What is Market Share? - Definition & Overview

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

Which one of the following is the best explanation of market share?

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1. What is the relationship between market share, brand penetration and customer loyalty?

2. If you are selling the same type of product as most in the market but are not concerned with being at top, which term best describes you?

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About This Quiz and Worksheet

Market share is a basic economic metric that is used to gauge the strength of a particular company compared to its competitors and its potential for future growth. This quiz/worksheet combo helps you understand market share and its role in marketing and investment.

Quiz and Worksheet Goals

In these assessments you'll be tested on:

  • The definition of market share
  • Key factors that determine market share
  • Companies that exploit market trends
  • Market share's relationship to consumer behavior
  • Limited segments of markets

Skills Practiced

This quiz and worksheet allow you test the following skills:

  • Information recall - access your knowledge on market share
  • Knowledge application - use your understanding of market share to explain its use in business and investment strategies
  • Defining key concepts - ensure you can define key terms such as brand penetration and market follower
  • Making connections - examine how market share affects consumer loyalty and sales

Additional Knowledge

To learn more, review the accompanying lesson, What is Market Share? - Definition & Overview. This lesson covers the following objectives:

  • Understand the purpose of determining market share
  • Explain the limitations of market share in assessing a company's success
  • Describe different roles companies have within a market
  • Understand the value of tracking fluctuations in market share
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