Glossary

Deutsch: Marktanteil / Español: Cuota de mercado / Português: Participação de mercado / Français: Part de marché / Italiano: Quota di mercato /

Market share is the measure of company sales versus total sales for a specific product Category or industry. So, Market Share is the percentage of business within a market category.

Description

Market share in the travel context refers to the percentage of total sales or bookings within a specific market that a particular company holds. It is a key indicator of a company's competitive position and success in attracting customers compared to its competitors. Travel companies strive to increase their market share by offering unique and appealing services, competitive prices, and effective marketing strategies. Market share can fluctuate due to changing consumer preferences, economic conditions, and new entrants in the market. Companies closely monitor their market share to make strategic decisions and stay ahead of the competition.

Application Areas

• Identifying competitive strengths and weaknesses
• Evaluating the success of marketing campaigns
• Setting Pricing strategies
• Targeting specific customer segments
• Measuring brand awareness and reputation

Treatment and Risks

• Investing in marketing and advertising to increase market share
• Developing innovative products and services to attract more customers
• Risks include losing market share to competitors, economic downturns affecting travel demand, and negative publicity damaging brand reputation
• Companies may need to adjust pricing, improve customer service, or expand their offerings to maintain or grow market share

Examples

• An airline company increasing its market share by offering discounted fares and expanding routes
• A hotel chain gaining market share by investing in renovations and enhancing customer experiences
• A travel booking website capturing market share through targeted advertising and partnerships with popular destinations

Similar Concepts

• Market dominance
• Market penetration
• Market leadership
• Revenue share

Weblinks

• finanzen-lexikon.de: 'Marktanteil' in the finanzen-lexikon.de (German)
• wind-lexikon.de: 'Marktanteil' in the wind-lexikon.de (German)
• industrie-lexikon.de: 'Marktanteil' in the industrie-lexikon.de (German)

Summary

Market share in the travel industry is a crucial metric that indicates a company's competitive position and success in attracting customers. Companies work towards increasing their market share through various strategies such as innovative offerings, competitive pricing, and effective marketing campaigns. It is important for companies in the travel sector to closely monitor their market share, identify areas for improvement, and stay ahead of the competition in order to thrive in a dynamic market environment.

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