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Business strategy
Reasons to achieve a high market share for your business
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[QUOTE="Jasz, post: 304043, member: 61772"] 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. [/QUOTE]
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