Market Dominance

Wikipedia defines "market dominance" as

A measure of the strength of a brand, product, service, or firm, relative to competitive offerings. There is often a geographic element to the competitive landscape. In defining market dominance, you must see to what extent a product, brand, or firm controls a product category in a given geographic area.

There is no necessary geographic component, however. The "market" could be people over 65 years of age; all those with a net worth over $1 million, tertiary care facilities in cities of at least 50,000 population. It all depends on your industry.

Market dominance is important because in any market, if one enterprise has a 75% share, anyone buying in that market is three times as likely to buy from the dominant enterprise than from any one of the others.

Market dominance is harder to achieve and to keep these days with the "niching" of the America, the incredible pace of social change, and the globalization of markets. Nevertheless anyone interested in the subject should go to the Wikipedia article and read the links.

If anything here grabs you, post a comment.

Everything I do is entrepreneurial. To read about real estate 2.0, go to www.yourstopforrealestate.com/blog; for writing 2.0, to www.kearneymusicschoolmurders.blogspot.com.