It would be a mistake for a firm to rely upon one market share measure only. Assuming that the firm has access to competitive sales information, then a variety of market share metrics should be calculated and reviewed.
Variations of Market Share Find Out More...
Market share is an easy metric to calculate provided you have access to unit and revenue sales. Here are some examples, and grab the free market shares Excel template as well.
Examples for Calculating Market Shares Find Out More...
Advertising awareness metricsIn addition to measuring brand awareness, firms will often look to measure advertising awareness through a similar/same survey of the target market. This would be an extension of the questionnaire discussed in the article on brand awareness metrics.There are four main advertising awareness metrics that can be measured through a questionnaire, namely;unprompted advertising
Advertising awareness and recall metrics Find Out More...
Brand awareness: often the first marketing communications goalBrand awareness is fundamental to success in the marketplace; if consumers are unaware of the brand they are unlikely to become customers. This is why the first goal in a marketing communications plan for a new brand is to build awareness of the brand.What is brand awareness?As suggested
Brand awareness metrics Find Out More...
There are multiple reasons why new products will fail to be successful in the marketplace. There is a separate article that outlines the numerous reasons for new product failure, along with some discussion. However, the purpose of this article is to discuss the degree to which each of these factors are controllable prior to be
Controllable factors for new product failure Find Out More...
Ways to identify a suitable value propositionProviding a value proposition is a central part of a firm’s offering in the marketplace. A value proposition helps differentiate firms and brands by having something unique about their “offering”.In marketing terms, an “offering” is the collection of benefits that is available to potential customers from transacting with the
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