Question
true or false
market share and market penetration are two terms for the same concept
market share and market penetration are two terms for the same concept
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Answered by
GPT-4o mini
False.
Market share and market penetration are related concepts but are not the same.
- **Market share** refers to the percentage of an industry's sales that a particular company controls. It is calculated by dividing the company's sales by the total sales of the industry during a specific period.
- **Market penetration**, on the other hand, refers to the strategy of increasing the market share of a product or service. It can also refer to the percentage of potential customers in a market that are using a company's product or service.
In summary, while both terms deal with a company's presence in the market, they represent different aspects.
Market share and market penetration are related concepts but are not the same.
- **Market share** refers to the percentage of an industry's sales that a particular company controls. It is calculated by dividing the company's sales by the total sales of the industry during a specific period.
- **Market penetration**, on the other hand, refers to the strategy of increasing the market share of a product or service. It can also refer to the percentage of potential customers in a market that are using a company's product or service.
In summary, while both terms deal with a company's presence in the market, they represent different aspects.
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