Posted in Marketing and Strategy Terms, Total Reads: 500
Definition: Market Position
Market position is the position of your company with respect to other companies in the same market or industry. The comparison is generally made in terms of sales volume for identifying the market position. The market position can be for a company or a brand or a particular product. Market position is established always in relative terms- it is a sort of ranking.
The above table shows the list of consumer appliances companies in the order of the percentage of the total market sales volume. Here Bajaj has a market leadership position, Philips has a market position of 6 and so on and so forth. The table shows the market position of various companies in a particular industry- consumer appliances industry.
Identifying of market position helps you identify where you stand in the market, and helps you set your objectives. For example, Philips may see that Bajaj has 10% more share than itself and may decide to become aggressive in its strategy so as to improve its share in the market.