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Business strategy
Reasons to achieve a high market share for your business
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[QUOTE="Augusta, post: 303380, member: 25283"] 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? [/QUOTE]
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