Apa Itu Market Share? | Strategi Marketing Masa Kini

Summary

In this video, viewers learn the importance of understanding market conditions and how to assess their business's market share. The concept of market share is explained with an example from the fashion industry, highlighting the dominance of certain companies. The video emphasizes the need for businesses to evaluate their position, consider growth potential, and understand different company orientations, such as market leaders, challengers, followers, and nichers. It also offers strategies for increasing market share, including adopting new technologies, improving quality, building customer relationships, and expanding target audiences.

Takeaways

• 😀 Market Share is a crucial metric to assess a company's strength in its market compared to competitors.
• 😀 Market Share represents the percentage of total industry sales a company controls, which can be used to gauge its power in the market.
• 😀 For example, if a company sells 70 out of 100 products in a particular industry, it holds a 70% Market Share, demonstrating its dominance in that market.
• 😀 Knowing your Market Share helps determine the success of your business in the marketplace and provides a benchmark for improvement.
• 😀 Market Share alone isn't enough to gauge success—growth potential and other factors, like quality and customer relations, matter too.
• 😀 Companies can be classified into different categories based on their Market Share and business orientation: Market Leaders, Market Challengers, Market Followers, and Market Nichers.
• 😀 A Market Leader has the largest Market Share and sets trends, while a Market Challenger seeks to take the top position.
• 😀 A Market Follower typically imitates leaders and faces challenges in gaining substantial Market Share.
• 😀 A Market Nicher, with a smaller share, targets a specific audience segment to dominate in a niche market.
• 😀 To increase Market Share, businesses can use new technologies, improve product quality, build strong customer relationships, and target new audience segments.
• 😀 Regularly assessing your Market Share can guide your strategic decisions and help you evaluate your competitive position against others.

Q & A

What is market share and why is it important for businesses?

Market share refers to the percentage of total sales a company holds within its industry. It is important for businesses because it indicates their strength and position in the market, influencing strategic decisions and growth potential.

How is market share calculated?

Market share is calculated by comparing the sales of a company to the total sales in its industry. For example, if a company sells 70 out of 100 units in an industry, its market share is 70%.

What are the four types of business orientations based on market share?

The four business orientations based on market share are: 1) Market leader (company with the largest market share), 2) Market challenger (company aiming to surpass the leader), 3) Market follower (company that follows trends set by leaders), and 4) Market nicher (company with a small market share but targeting a specific niche).

How does market share influence the success of a business?

Market share is a key indicator of a business's success because it reflects its dominance in the market, its ability to attract customers, and its competitive position. A larger market share generally indicates a stronger, more successful business.

What are the key factors to consider when assessing market share?

The key factors to consider when assessing market share include overall market conditions, the company's growth trajectory, and other business success factors such as whether the company is a market leader, challenger, follower, or nicher.

What are some strategies to increase market share?

Strategies to increase market share include using new technologies, improving the quality of products and services, maintaining strong customer relationships, targeting new customer segments, and offering promotions or adjusting prices to attract more buyers.

Why is technology important in improving market share?

Technology helps businesses stand out by offering innovative features that enhance customer experiences. For example, having a fast, secure website can give a company a competitive edge over others in the industry.

How can improving customer service contribute to increasing market share?

Improving customer service ensures better customer satisfaction, loyalty, and retention, which can lead to repeat purchases and positive word-of-mouth, ultimately contributing to an increase in market share.

What does it mean to be a 'market nicher' and how can this strategy be effective?

A market nicher is a company with a small market share that focuses on a very specific target market or niche. This strategy can be effective because it allows the company to specialize and cater to a unique customer base, differentiating itself from larger competitors.

How can businesses evaluate their market share in relation to their competitors?

Businesses can evaluate their market share by comparing their sales to the overall sales in the industry and considering their position relative to competitors. This helps them understand their market dominance and identify areas for growth or improvement.