6 Analyse the situations in which increased market share can be the right business objective. [6]

[Mahnoor Nadeem]

[KN]: When the business has achieved its previous objectives
[AN]: Once the business has survived and has made its position it the market visible it would focus towards getting an increased market share and earn higher profit
[AN]: it would be great for the business to expand as now it has built a “ brand image”

[KN]: When the business has a USP
[AN]: When there is a new product/service in the market it would be easier to get a higher market share as it is unique and has fewer rivals
[AN]: It would be difficult for the competitors to compete with them and even result in higher profits