Imagine You Are the Marketing Manager for Herron Pharmaceuticals and Have

Imagine you are the marketing manager for Herron Pharmaceuticals and have been provided with the following summary information relating to sales of Herron brands along with sales of Herron's closest competitors. Calculate market share for each of the brands and for the category as whole, for the year 2005, using the data and formulae provided and answer the following questions:
a) Calculate market share and display your results in a table suitable for presentation in a business report.
b) Comment on the advantages of using both value and volume to measure a brand's market share.
c) Comment on the usefulness of market share as a performance measure.
d) What other performance measure would you recommend for Herron?
Formulae: Share of Market - Competitive (SOM)
There are two metrics used to measure share of market; volume and value. For reference, the formulae are provided here:
$\begin{array} { l } \text { SOM (value) } ( \% ) = \frac { \text { Sales } ( \$ ) \text { for Focal Company (or Brand) } } { \text { Sales } ( \$ ) \text { for Category } } \times 100 \\\\\text { SOM (Volume) } ( \% ) = \frac {\text {\text { Units Sold for Focal Company (Or Brand } ) }} { \text { Units Sold for Category} } \times 100\end{array}$ Explanatory Notes:
-Data refers to sales at supermarkets and convenience stores. Pharmacy sales data is not included.
-Value = $sales (millions)
-Volume= millions of dozens of packets
Source: Retail World, 2004- 2006