Market share tells/give clear picture of different firms in an industry. There are basically four types of market players. • Market leaders. • Market challengers. • Market followers. • Market Niche. Market Leaders: The firm with the largest market share is the market leader. That means most of the consumers consumes its product or service. The market leader usually has the highest marketing expenditures, distribution, price changes, and new product innovations. This company is at top position it set the trends and all the rivals tries to compete with this market leader. Market Challengers: Market challengers are the firms that are competing with the competitors in order to increase their market share. They struggle a lot to capture others market share. Market Followers: Firms in an industry that are either happy with their market share or doing little to increase sales/ market share are considered as market followers. A market follower is a firm in a strong, but not dominant position that is content to stay at that position. Market Niche: The market niche brand is the player that targets its business toward small group of people or target segments that are often ignored by the larger players. It is also called a focus strategy. The niche marketer can be very profitable, can be a risky business i.e. High risk and high returns these players choose for high margins over higher volume.
