Marketing Strategy for Small- to Medium-Sized Manufacturers

Market Share of What?

Owners and managers have asked if I could tell them their market share. I say I can if they tell me the market(s) or segments they’re in. ­Expectedly, their answers resemble the vague descriptions given in the questionnaire, such as automotive, die-casting, growers, roll and web business, consumer electronics, and so on. Similarly, a company might define its markets according to the industries identified by its trade association; particularly in job shop and machining businesses. For example, BuzzCo’s owner asked if I could tell him his market share, defining his markets as ­aerospace, defense, transportation, automotive, appliance, business machines, electronics, agricultural implements, ordnance, and environmental listed ...