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A company aims to increase its market share by 10% over the next year. If its cu
A company aims to increase its market share by 10% over the next year. If its current market share is 25%, what will be its target market share?
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A company aims to increase its market share by 10% over the next year. If its current market share is 25%, what will be its target market share?
30%
35%
40%
45%
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Increasing 25% by 10% gives a target market share of 30%.
Questions & Step-by-step Solutions
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Q: A company aims to increase its market share by 10% over the next year. If its current market share is 25%, what will be its target market share?
Solution:
Increasing 25% by 10% gives a target market share of 30%.
Steps: 7
Show Steps
Step 1: Identify the current market share, which is 25%.
Step 2: Determine the percentage increase desired, which is 10%.
Step 3: Calculate 10% of the current market share (25%). This is done by multiplying 25% by 0.10.
Step 4: 10% of 25% is 2.5%.
Step 5: Add this increase (2.5%) to the current market share (25%).
Step 6: 25% + 2.5% equals 27.5%.
Step 7: The target market share is 27.5%.
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