Explain the importance of market share.

Explanation should include a definition of market share and a commentary on the relationship between market share and competition.

Process/Skill Questions:

• Why is market share important?
• What can cause market share to decrease?
• How can a business increase its market share?
• How can niche marketing be used to penetrate new markets?
• What role does positioning play for a company seeking an increase in market share?
• How does brand loyalty affect market share?