CAIE IGCSE Business Studies 7.1.1 Market share
Practise defining market share and calculating a business's share or sales value from total market revenue data.
- Syllabus
- 2027–2029
- Course
- Business 0264
Exam points
- calculate market share using business sales revenue and total market sales revenue
- work backwards from a market-share percentage to find the firm's sales value
7.1.1—Market share question 1
LRL makes skincare products including face cream. It is a private sector business in country X . One of LRL's objectives is to contribute to sustainable development. Maintaining customer loyalty is important and the Marketing Director knows a business must have an appropriate marketing mix. He is analysing data to calculate the value of LRL's market share. An extract is shown in Fig. 3.1. The total value of sales of skincare products in country X for 2023 was $120 million.
Market share data for skincare products in country X in 2023 (\%)
Calculate the value of LRL's market share in 2023.
Working:
Final answer:
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