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What is "market share"

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market share
Longman Dictionary of Contemporary English
market share
noun
EXAMPLES FROM CORPUS
▪ Beyond those, they cite the high costs of customer disaffection, which drives down both profit margins and market share.
▪ Imperial's profits from cigarettes surged to £225m last year, while its market share remained buoyant.
▪ In a fight with other video chains for market share, Blockbuster spent heavily on advertising and promotion.
▪ It has competition, but such a mammoth market share as to be a monopoly.
▪ Lloyd's is keen not only to increase its market share but to broaden its spread of risks.
▪ Mr Petty is hoping to gain market share by lowering prices on popular menu combinations under a new three-tiered pricing program.
▪ New products and increased marketing activity are key to Waterford Crystal gaining market share at profitable margins.
▪ The key to growth and stable employment will be through improving the international competitiveness and increasing the market share of our companies.
Wiktionary
market share

n. percentage of some market held by a company.

Wikipedia
Market share

Market share is the percentage of a market (defined in terms of either units or revenue) accounted for by a specific entity. In a survey of nearly 200 senior marketing managers, 67% responded that they found the "dollar market share" metric very useful, while 61% found "unit market share" very useful.

"Marketers need to be able to translate and incorporate sales targets into market share because this will demonstrate whether forecasts are to be attained by growing with the market or by capturing share from competitors. The latter will almost always be more difficult to achieve. Market share is closely monitored for signs of change in the competitive landscape, and it frequently drives strategic or tactical action."

Increasing market share is one of the most important objectives of business. The main advantage of using market share as a measure of business performance is that it is less dependent upon macroenvironmental variables such as the state of the economy or changes in tax policy. However, increasing market share may be dangerous for makers of fungible hazardous products, particularly products sold into the United States market, where they may be subject to market share liability.