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Market share projection tips for small business

What business remains within your market and how best to pursue that business

Market Share Projection is Similar to a Gap Analysis

The small business has essentially identified how many units each customer can purchase in a given year

How Can a Company Project its Future Market Share?

Determine Market Size

The fundamental principle to determining market size is to calculate the potential consumption within the market.

Determine Current Business Relative to Potential Business

t’s a question of understanding how much customers could actually purchase within a given year

Determine Current Market Share

Determining current market share simply involves dividing current business by total market size.

Small businesses must take into consideration the growth rate of their market when looking at market share projections

There are several sources of information that can be used

Some of these include: trade magazines, industry or market publications, the internet itself and getting the information directly from customers.