Thank you so much, now we know the 4Ps of the marketing mix!!!
But now can you please work out what our market share is in the local area.
We have some information that we found out by observing our nearby direct competitors.
This is what we know…
- The average customer spends $20 per purchase
- And last week we had 50 customers, giving us $1,000 in sales revenue
- We noted that Competitor A had 250 customers last week, and it appears that their average customer also spends around $20 each time
- But Competitor B had 200 customers, but their customers buy twice as much and spend around $40 per visit
- While Competitor C had an amazing 600 customers with an average customer spend of only $10 each.
So we want to know how we are going in terms of sales revenue market share. Can you please work it out for us?
Calculate their market share in dollars and enter the answer as X%, where X is your answer and then add the % sign without any spaces.