Data and Audience
5 Franchise Marketing Mistakes to Avoid in 2023
Market share is the percent of total sales in a particular industry generated by one company. For example, if the global athletic footwear market is a $98 million business and Nike does 50% of those sales, they have a 50% market share in that industry. Market share is a standard measurement used to compare the size of a business in relation to its overall market and competitors. Once you know your market share, that information can be used to develop marketing strategies geared at reaching more potential customers and increasing your overall market share.