Why is measuring SOM important?

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3. Share of Market (SOM)
SOM (Share of Market) is the portion of the total market or SAM that a company or brand currently captures or controls. It is expressed as a percentage and indicates the company's position in the market compared to competitors.

It is a measure of a company's performance relative to its competitors and gives insight into its market position and competitive strength.

SOM reflects the company's market penetration and competitive position relative to others in the market. It helps companies understand their performance in specific areas of the market and identi cellphone number in philippines fy opportunities for growth and expansion.

Strategies for increasing SOM may include market expansion, product innovation, brand building, customer acquisition initiatives, and competitive pricing strategies.

How do you calculate SOM?
You can calculate SOM by dividing the company's revenue or sales by the total market sales or revenue and multiplying by 100 to get a percentage.

The formula for calculating SOM is: