Market Position
Where business stands in market relative to competitors.
Formula
Market Share (%) = (Firm's Sales ÷ Total Market Sales) × 100
Real World
Apple holds a premium market position despite a relatively small unit share — its brand strength and perceived quality allow it to charge prices rivals cannot match.
Exam Focus
Don't conflate market share with market position; a firm can have low share but a strong position — explain the distinction using brand or differentiation evidence.
How well did you know this?