Reasons to achieve a high market share for your business

[Augusta]

It is good to have a business that have high market share that will help the growth of the business. Having a high market share comes with immense benefits so it is good to capture a high level share for your business.

So what are the reasons you should have high market share.
Better prices from suppliers

There's always a high market share with companies that have good enough products. With this high level of products supply, the company will get better prices from suppliers, as they will ordering high volumes of products.


Higher level of production

With a high market share, a manufacturing company will produce more products because

Increased market share and greater production work together. So if you want to have high production volumes you need a high market share.

Improved sales

Another reason is that with higher market share you can have increased sales when customers buy more of the company’s products because the customer base is large.

High company's reputation and recognition

The good thing about high market share is that it make the business more popular and increased company’s reputation. so apart from increasing sales and boosting bargaining power, high market share can lure skilled and talented employees to the business.

What do you think?

 

[Jasz]

Any business that wants to compete effectively in the market must strive for a high market share. Increasing your company's market share is critical for the following reasons:

Increased profitability and revenue: Your company's profitability and revenue can rise as a result of a larger market share and more sales.

heightened recognition of the brand: A large market share can help your company become a market leader and increase brand recognition.

Enhanced bargaining leverage: You may be able to negotiate better partnerships and deals with suppliers, partners, and customers if you have a large market share.

Scale economies: Economies of scale, which enable you to produce goods or services more effectively and at a lower cost, can result from a large market share.

fewer competitors: Having a large market share can make it harder for rivals to break into your market and establish themselves.

 

[Knowlopedia]

Having a high market share is essential for any business. It can help you increase your profits, gain more customers and establish yourself as an industry leader. Here are some of the key reasons why achieving a high market share should be one of your top priorities:

1) Increased Profits – Achieving higher levels of market share means that you have access to larger customer bases which in turn leads to increased sales and greater profitability. This allows businesses to reinvest their money into other areas such as research & development or marketing campaigns, helping them grow even further over time.

2) Brand Recognition - Having a large portion of the total available marketshare helps build brand recognition among consumers who may not otherwise know about your company’s products or services but will become familiar with it through its presence on store shelves or online stores like Amazon etc.. As people recognize your brand they're likely going to purchase from you again due trust has been established between both parties making repeat purchases easier than ever before!

3) Competitive Advantage- With so much competition out there today having strong foothold within certain industries gives companies competitive advantages when competing against rivals by allowing them better pricing power since suppliers would rather deal with those who control most/all aspects related production (raw materials procurement). Additionally this also makes entering new markets less risky because existing relationships already exist thus reducing costs associated launching operations abroad while still being able leverage current resources efficiently without too many additional investments required upfront!