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What are the most common methods for conducting a market share analysis?

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Market share analysis is a vital tool for product development, as it helps you understand how your product compares to your competitors and how it performs in different segments of the market. By measuring your market share, you can identify your strengths, weaknesses, opportunities, and threats, and adjust your product strategy accordingly. In this article, we will explore some of the most common methods for conducting a market share analysis and how to apply them to your product development process.

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Claire Van de Voorde ??

CPO & Product Coach ?? J'aligne votre stratégie produit à la stratégie d'entreprise | Partenaire stratégique des CEOs
Kaushik Maitra CSM?

Senior Technical Consultant in TCS BENGALURU|| ??Certified ScrumMaster? ||??37K LinkedIn Family.|| Web Accessibility…

1 Volume-based method

The volume-based method is the simplest and most widely used way of calculating market share. It involves dividing your product's sales volume by the total sales volume of the market or a specific segment. For example, if your product sold 10,000 units in a market that sold 100,000 units in total, your market share would be 10%. This method gives you a quick and easy overview of your product's penetration and popularity in the market, but it does not account for factors such as price, profitability, or customer satisfaction.

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Claire Van de Voorde ??

CPO & Product Coach ?? J'aligne votre stratégie produit à la stratégie d'entreprise | Partenaire stratégique des CEOs
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I start computing the market size, based on existing market studies (Xerfi, Mc Kinsey) or public data (INSEE in France). I then work closely with the Sales team to evaluate our number of customers, average spent, and compare our pricing with the competitors. This gives me an idea of: - how many deals we've won compared to the market size (basic volume sizing) - how much $$ we've won compared to the market revenue estimate (revenue sizing) - what % of the market we've lost to competition and what kind of deals, to evaluate what size of the market is actually within our grasp. The last step ensures we don't overestimate the market size, for instance thinking everyone has gone digital while there is still old-school paper-based business.

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Kaushik Maitra CSM?

Senior Technical Consultant in TCS BENGALURU|| ??Certified ScrumMaster? ||??37K LinkedIn Family.|| Web Accessibility Test Lead ||Automation Tester|| PMO Operations||
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Volume-based allocation is a cost allocation method that distributes overhead costs to products, services, or departments based on a common volume-based metric. It's also known as traditional costing.

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2 Value-based method

The value-based method is similar to the volume-based method, but it uses sales revenue instead of sales volume. It involves dividing your product's sales revenue by the total sales revenue of the market or a specific segment. For example, if your product generated $50,000 in revenue in a market that generated $500,000 in total, your market share would be 10%. This method gives you a more accurate picture of your product's contribution to the market, as it reflects the price and profitability of your product. However, it does not capture the quantity or quality of your product's sales.

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Kaushik Maitra CSM?

Senior Technical Consultant in TCS BENGALURU|| ??Certified ScrumMaster? ||??37K LinkedIn Family.|| Web Accessibility Test Lead ||Automation Tester|| PMO Operations||
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Value-based pricing is a pricing strategy that sets prices based on how much customers perceive a product or service to be worth. It's also known as value-added pricing or value pricing

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3 Share of wallet method

The share of wallet method is a more customer-centric way of measuring market share. It involves dividing your product's average spending per customer by the total average spending per customer in the market or a specific segment. For example, if your product's customers spend $100 on average in a market where the average customer spends $200, your share of wallet would be 50%. This method gives you a deeper insight into your product's value proposition and customer loyalty, as it shows how much of their budget your customers allocate to your product. However, it requires more data and research to obtain reliable estimates of customer spending.

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Kaushik Maitra CSM?

Senior Technical Consultant in TCS BENGALURU|| ??Certified ScrumMaster? ||??37K LinkedIn Family.|| Web Accessibility Test Lead ||Automation Tester|| PMO Operations||
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Share of wallet (SOW) is a sales metric that measures how much a customer spends on a company's product or service compared to competing products or services. It's also known as share of requirements.

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4 Relative market share method

The relative market share method is a more competitive way of measuring market share. It involves dividing your product's market share by the market share of your closest competitor or the market leader. For example, if your product has a 10% market share and your main competitor has a 20% market share, your relative market share would be 0.5. This method gives you a better understanding of your product's position and performance in the market, as it shows how you compare to your rivals and how much room you have to grow. However, it does not reflect the size or dynamics of the market as a whole.

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Kaushik Maitra CSM?

Senior Technical Consultant in TCS BENGALURU|| ??Certified ScrumMaster? ||??37K LinkedIn Family.|| Web Accessibility Test Lead ||Automation Tester|| PMO Operations||
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Relative market share is a metric that calculates the portion of a market a company owns in relation to its top competitor. It can be calculated for a company as a whole or for specific products, brands, or categories.

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5 Market share index method

The market share index method is a more advanced way of measuring market share. It involves comparing your product's market share in a specific segment or region to your product's overall market share. For example, if your product has a 10% market share in the US and a 5% market share globally, your market share index in the US would be 2. This method gives you a more nuanced view of your product's potential and performance in different markets, as it shows where you have a higher or lower penetration and popularity. However, it requires more data and analysis to calculate and interpret the market share index.

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Rodrigo Bravo Lopez

Operaciones | Planeación Estratégica | Comercial | Cadena de suministros | Operaciones | Manufactura | Project Manager | Business Operations Manager | Commodities | agribusiness | Estrategia de negocios
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la expansión de la cuota de mercado es una meta constante para las empresas que buscan consolidarse como líderes en la industria. Algunas claves son: Fomentar asociaciones sólidas con agricultores locales es fundamental. La confianza y la colaboración a largo plazo con estos productores no solo garantizan un suministro constante, sino que también contribuyen al desarrollo económico de las comunidades agrícolas. Innovación en la Cadena de Suministro: Optimizar la cadena de suministro es esencial para mantener la frescura y calidad de los productos. La implementación de tecnologías innovadoras, como el seguimiento de la cadena de frío y sistemas de logística eficientes, puede mejorar significativamente la calidad del servicio.

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Kaushik Maitra CSM?

Senior Technical Consultant in TCS BENGALURU|| ??Certified ScrumMaster? ||??37K LinkedIn Family.|| Web Accessibility Test Lead ||Automation Tester|| PMO Operations||
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This is not professional financial advice. Consulting a financial advisor about your particular circumstances is best. A stock market index is a hypothetical portfolio that derives its value from the values of its underlying securities. It can be constructed by choosing equities from similar companies or those that match a predetermined set of criteria

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6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Kaushik Maitra CSM?

Senior Technical Consultant in TCS BENGALURU|| ??Certified ScrumMaster? ||??37K LinkedIn Family.|| Web Accessibility Test Lead ||Automation Tester|| PMO Operations||
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This is not professional financial advice. Consulting a financial advisor about your particular circumstances is best. A stock market index is a hypothetical portfolio that derives its value from the values of its underlying securities. It can be constructed by choosing equities from similar companies or those that match a predetermined set of criteria

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What are the most common methods for conducting a market share analysis?

1

2

3

4

5

6

1 Volume-based method

2 Value-based method

3 Share of wallet method

4 Relative market share method

5 Market share index method

6 Here’s what else to consider

Product Development

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What are the most common methods for conducting a market share analysis?

1

2

3

4

5

6

1 Volume-based method

2 Value-based method

3 Share of wallet method

4 Relative market share method

5 Market share index method

6 Here’s what else to consider

Product Development

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