Marketing Strategies to Increase Market Share for Business Growth

Marketing For Competitiveness Week 6 Discussion Market Share Why are marketing strategies important? Companies use marketing strategies to increase their profitability by growing their market share. A higher market share can create a strong advantage for an organization. If a company releases a product or service for which there is a demand, then that means more people will purchase it (generating more revenue), it will be easier to advertise (reducing ad spending), and it will be more difficult for competitors to compete against (solidifying the organization’s position in the marketplace). Companies rely on effective strategies to increase market share, such as innovating with their products, developing and maintaining good relationships with their customers, and outperforming their competitors. In this Discussion, you will consider how a specific company could benefit from increasing its market share, as well as provide recommendations for how to do so. To prepare for this Discussion: Select a company you are familiar with or one that is well-known that you feel could benefit from increasing its market share. Post an evaluation of marketing strategies for capturing market share for a company, to include the following: Provide a brief description of the company you selected. Explain how you think the company could benefit from increasing its market share. Justify at least three recommendations that the company could incorporate to increase its market share.

📖 Struggling with where to start this assignment? Follow this guide to tackle your assignment easily!

Step 1: Understand the Assignment Requirements

• You are asked to evaluate marketing strategies a company could use to increase its market share.

• Include:

  1. A brief description of the company.

  2. How increasing market share would benefit the company.

  3. At least three recommendations for marketing strategies to grow market share.

Step 2: Select a Company

• Choose a company you are familiar with or one well-known (e.g., Apple, Nike, Coca-Cola).

• Gather basic information: industry, products/services, size, current market position.

Step 3: Describe the Company

• Provide a short introduction: name, products/services, target market, and any relevant performance data.

• Keep it concise (2–3 sentences).

Step 4: Explain Benefits of Increasing Market Share

• Highlight how increasing market share impacts:

  • Revenue growth: more customers buying products.

  • Competitive advantage: making it harder for competitors to gain ground.

  • Advertising efficiency: higher brand awareness can reduce marketing costs.

• Support your points with examples or data if possible.

Step 5: Develop Recommendations

• Provide three actionable marketing strategies. Examples include:

  1. Product innovation – improving features or creating new offerings.

  2. Customer relationship management – loyalty programs, personalized marketing.

  3. Competitive positioning – pricing strategies, brand differentiation, aggressive promotion.

• For each recommendation, justify how it will increase market share.

Step 6: Organize Your Discussion

• Suggested structure:

  1. Introduction: Company overview.

  2. Benefits: Explain why increasing market share matters.

  3. Recommendations: List strategies with justification.

  4. Conclusion: Summarize how the strategies can drive growth.

Step 7: References

• Include at least 2–3 current scholarly or reputable sources.

• Ensure APA 7th edition formatting for in-text citations and reference list.

• Example sources:

  • Kotler, P., & Keller, K. L. (2022). Marketing management (16th ed.). Pearson. https://doi.org/10.1007/978-3-030-60054-8

  • Armstrong, G., & Kotler, P. (2021). Principles of marketing (18th ed.). Pearson.

Step 8: Review and Proofread

• Ensure your discussion is organized, clear, and professional.

• Verify grammar, spelling, and APA formatting.

• Make sure all recommendations are specific, actionable, and justified.

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