Answer questions 1, 2, and 3

What is Market Share? Most simply, market share is the proportion of total market sales attributed to a single company or product It is he total sales of a single company's product divided by the total sales of the same product for all firms in that market. A single firm's market share is expressed as a percent of this later total. or example, if the total sales for all craft beers in the Dallas-Ft. Wort market area were S10,000,000 in 2014 and the total sales for a single brewer (say, Revclver) were $500,000, then Revolver's market share in 20 was $500,000/$10,000,000 05, or 5% There are a number of ways to view market share. The view just discussed is the simplest way to look at market share and is termed absolute market share in which a single Firm's sales are compared to the absolute sales of the industry as a whole, Absolute market share can be computed intwo ways: 1) based on unit sales, unit market share; and 2 based on revenue revenue market share: Company Unit Sales Unit Market Share x 100 Total Market Unit Sale Company Sales Revenue Revenue Market Share x 100 Total Market Sales Revenue By contrast, marketing managers also are interest in measuring their relative market shares compared to specific competitors, usually the largest competitor in the relevant market Relative market share is the Firm's sales expressed as a ratio with the sales of these competitors: Company Market Share Relative Market Share x 100 Competitor's Market Sha Since the ratios in the above formulas are multiplied by 100, the result expresses market share in percent form and should have the percent symbol appended to the result e.g.: 50.15% Keep in mind that market share often is expressed in decimal form. For example, 50.15% would be .5015 when expressed in decimal form. In this case the resulting computation should not be accompanied by the percent symbol. When working the problems for this exercise, pay close attention to how your answers are to be formatted In general the exercises ask you to express your results in decimal formrather than percent form For example, above we noted that Revolver's sales for 2014 were $500,000 and it commanded 5% of the total craft beer market in the DFW market area. Assume that Revolver has three other primary competitors in this market area: Rahr and Sons, Deep Elum Brewing Company, and Petticola's Brewing Company. Assume the market shares held by these three brewers are 10%,7%, and 6.5%, respectively. Revolver's relative market shares compared to these three brewers are: 5% 5 or 50% Against Rahr and Sons 0% 71 or 71% Against Deep Elum 7% 5% 76 or 76% Against Petticola: 6.5%