What is the term for the proportion of total sales in a market for which one or more businesses or brands are responsible, expressed as a percentage?

• A. Market size
• B. Market growth
• C. Market share
• D. Market power

Answer: (C)

The main idea here is measuring how much of the total market sales a business or brand captures, shown as a percentage. This is called market share. It is calculated by dividing the firm's sales by the total sales in the market and multiplying by 100. For example, if the whole market sells £200m in a year and a company sells £50m, its market share is 25%. Market share helps show a company’s relative size and competitive strength, and it can be tracked over time to see gains or losses.

This differs from market size, which is the total value or volume of the market itself; market growth, which looks at how the market’s size changes over time; and market power, which refers to a firm's ability to influence prices or terms, not the portion of sales it holds.