Anne-Marie Cole runs the sales division for a local auto insurance firm.One of her key duties is to calculate her company's market share.When evaluating the prior year's numbers, she found that her firm achieved total sales of $3 million and the entire industry had $30 million in sales.What is Anne-Marie's current market share?

Question

Quizplus · Accepted Answer

To calculate the market share, we need to divide the sales of Anne-Marie's firm by the total sales of the industry and multiply the result by 100. 
Market share = (sales of Anne-Marie's firm / total industry sales) x 100 
Market share = ($3 million / $30 million) x 100 
Market share = 0.1 x 100 = 10% 
Therefore, Anne-Marie's current market share is 10%.

Anne-Marie Cole Runs the Sales Division for a Local Auto