Question
State the market share formula.
Answers
GPT-4o mini
The market share formula is typically expressed as:
\[
\text{Market Share} = \left( \frac{\text{Company's Sales}}{\text{Total Market Sales}} \right) \times 100
\]
Where:
- **Company's Sales** refers to the total sales of a specific company within a given period.
- **Total Market Sales** refers to the overall sales of all companies in the market during the same period.
This formula provides the percentage of the total market that a specific company holds, indicating its competitive position within the industry.
\[
\text{Market Share} = \left( \frac{\text{Company's Sales}}{\text{Total Market Sales}} \right) \times 100
\]
Where:
- **Company's Sales** refers to the total sales of a specific company within a given period.
- **Total Market Sales** refers to the overall sales of all companies in the market during the same period.
This formula provides the percentage of the total market that a specific company holds, indicating its competitive position within the industry.