Question

Topic: Research/Metrics

Market Share Calculation

Posted by robyn on 125 Points
I work within the events industry. There is very little research data available on the size of the market currently. All I can find is research done on total turnover of our industry done some years back and my companies total turnover of that gives me the market share at that point. How do I calculate the growth of the market year on year so that I can continue to check grwoth or decline of market share. Its a long reach, but I need to be able to benchmark aginst something.
To continue reading this question and the solution, sign up ... it's free!

RESPONSES

  • Posted on Member
    You should be able to find what you are looking for here:

    https://www.marketresearch.com/browse.asp?categoryid=289
  • Posted by mgoodman on Moderator
    The figures you need are really just for the market you serve. Knowing about another country or worldwide trends won't be very useful as benchmarks for your business. Is there a local/regional convention and tourism bureau of some kind that might have useful information for you?
  • Posted by koen.h.pauwels on Member
    If the all else fails, is there any way you can get together with key competitors to share sales data? I know this is tough, but once manufacturers and retailers started doing this (through third party providers like IRI and Nielsen), it revolutionized the industry.
  • Posted by robyn on Author
    Unfortunately, still no data available for South Africa, still a fairly young industry. Any suggestions on what I can do with the little data I have?
  • Posted by koen.h.pauwels on Member
    If I understood you correctly, you only have the total industry turnover some years back, and your own turnover for several years. So, the one thing you can do with the data you have is
    1) calculate your market share for the year you have the total turnover data (which you did)
    2) assume your market share stayed the same and simply multiply your annual turnover with the above calculated market share to come up with estimated annual total industry turnovers.

    Of course, this does not give you any insight in whether you market share has increased or decreased...

    which brings me to the key question: why do you (believe you) need to find out whether your market share has increased or decreased? Which decision will it influence at your company? Is that decision worth the time and money you may need to spend to get the information?
  • Posted by robyn on Author
    Thank you, you are quite right perhaps this is not of much significance other than wanting to know if our competitors are making headway and whether our marketing efforts are paying off. Not of much use in the planning going forward. Just frustrated by the lack of measurability.

Post a Comment