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Reasons to achieve a high market share for your business
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[QUOTE="Knowlopedia, post: 304054, member: 91868"] 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! [/QUOTE]
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