Market Potential and Market Share

To create future demand is known as "Market Potential".For locating the market oppurtunities a company has to trace the different and specific requirements of the customers. For this there is a procedure to be followed and it begins from analysing,assessing the culture, beliefs,behaviour,habits and motivations of each different community in the market. A company has to identify new profitale sectors where they can fetch more benefits and also offer potential business.

Market share is the actual share in the market by any company for its product and the maximum share can be attained by product differentiation and it should be based on mass customization. Once potential is defined then same should be explored to the maximum for increasing the market share.