"Share of Market" refers to the percentage of total sales in a specific market that a company or brand controls. It is a key indicator of a company's competitiveness and performance within its industry. For example, if a company sells 20 out of 100 total units in a market, its share of market is 20%. Understanding share of market helps businesses identify their position relative to competitors. Companies often analyze this metric to develop strategies for growth, improve marketing efforts, and enhance product offerings. A higher share of market typically indicates stronger brand recognition and customer loyalty.