Increasing your company s market share is a great way to increase your sales, improve customer and brand loyalty, and reduce your competition. For example, imagine Joe s Widgets has 60% market share and your company has 40% of the market share. How would you increase your market share to gain a greater pie of the overall market?
In this assignment, review the scenario and history of the company, and then use a competitive analysis to identify ways you may be able to increase market share from 15 percent to 20 percent. This may include, but is not limited to:
Increasing the market base.
Maximizing market potential.
To complete this assignment, research strategies and methodologies that relate to increasing your market share. You must have at least two resources. This can include your textbook and this Unit s readings.
Your market share strategy should be presented as if you were presenting it to your boss, which may be in a memo format.