Market Shares: Overview and Formulas
Market share is a measure of how the brand/firm is performing relative to its competition.
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Available versus unavailable consumers
Firms will often have the goal of increasing market share. Increased market share is primarily delivered through winning a greater proportion of the market’s business. In particular, one or more of the following situations must occur for a firm/brand to increase its market share:A greater proportion of consumers decide to purchase the brandThe brand wins
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How to decompose market share: VIDEO
Market share can be decomposed into three components, namely:Penetration ShareShare of CustomerUsage IndexThe following video explains how these three components work together to calculate overall market share.
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Advertising awareness and recall metrics
Advertising awareness metricsIn addition to measuring brand awareness, firms will often look to measure advertising awareness through a similar/same survey of the target market. This would be an extension of the questionnaire discussed in the article on brand awareness metrics.There are four main advertising awareness metrics that can be measured through a questionnaire, namely;unprompted advertising
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Brand awareness metrics
Brand awareness: often the first marketing communications goalBrand awareness is fundamental to success in the marketplace; if consumers are unaware of the brand they are unlikely to become customers. This is why the first goal in a marketing communications plan for a new brand is to build awareness of the brand.What is brand awareness?As suggested
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Hierarchy of effects model and share of hearts
Hierarchy of effects model and share of minds and share of heartsThere are numerous hierarchy of effects models that are covered in marketing literature. Probably the most common one was developed in 1961 and is a six stage model usually included in a Philip Kotler marketing textbook. The following diagram is an expansion of the
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Relative market shares
Relative market share is a marketing metric used to compare the firm’s market share to the largest competitor in the market.
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Using Relative Market Share in the BCG Matrix
Quick Overview of the BCG MatrixFor those people familiar with the BCG matrix, you should recall that the horizontal axis measures relative market share.This is the more important of the two dimensions. A high or low relative market share makes the difference between a cash cow and a dog or a star and a question
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Quick Online CLV Calculator
Free online CLV calculatorThe following free online CLV calculator is ideal for quick calculations of customer lifetime value. If you need a more detailed calculation of customer lifetime value, please download the free Excel template for calculating customer lifetime value.How use the free online CLV calculatorYou only need to enter three numbers – into the
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Full CLV Calculator (with Financials)
How to Use the Full CLV CalculatorYou only need to enter four numbers – please only type over the numbers in the white cells – the numbers in the orange cells are automatically calculated for you.To calculate the customer lifetime value, you will need to enter:Average customer acquisition costsAverage customer profit contribution per yearAverage annual
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