Principia recently conducted its second annual survey with business management professionals at all levels within manufacturing and distribution companies serving the building materials industry. The purpose of this effort is to identify preference and usage patterns for market share data to manage key business activities.
Importance of Market Share
The survey results prove that market share data is an important metric for companies to measure performance and progress, and gauge success in the market. Detailed and accurate data can support how to leverage this information to drive specific programs around product, price, channel and customer to create a winning strategy.
As shown in the figure above, respondents believe market share statistics are an important metric to measure. In fact, 90% of building materials and construction industry executives believe market share statistics are somewhat or very important to managing their business.
However, 60% of respondents indicate that they are currently dissatisfied or neutral about their satisfaction with their current market share as indicated in the figure below.
Additional Findings on the Use of Market Share
A summary of the additional findings from the market share survey including a comparison to last year’s results are available for download.
- How companies are addressing dissatisfaction with market share
- Other metrics used for measuring company performance
- Initiatives to implement based on market share statistics
- Sources of market share
- Internal company data tracked and integration with third-party data
- Challenges of using market share
To access the full summary, please Click Here.