Market share define as the total purchases of a customer of a product or service. It is a measure of the consumers preference for a product over other similar product and itis extremely important for any company since it helps the managers in making decision to ensure the success of the business. Price and value are both significant since price is what the consumers pay while the value is what the consumers get in a product. But among the two approach the more defensible in capturing the market shares is the value.
These days starting business becomes more difficult since there are a lot of competitors especially when a business is profitable many will also sell the same product and provide same services to compete with them. But after some time, those organization or business that offers same products and services are forced to drop or low the cost of what they offer until there is already no benefit to them because all business can lower their price. Every business takes actions by improving and developing different strategies but still end up to nothing. One of the best solutions that the company should do to survive is to capture the market share by improving products quality and providing a value that your business can only provide. As what Peter Theil said, “In the real world outside theory, every business is successful exactly to the extent that it does something others cannot.” For a business to create value that cannot be replace or imitate time is needed to work with it. The value for the costumer perspective is an act to evaluate the profitability of the management action. The market share shows the competitive strength of the business and it helps companies to determine whether they are progressing or not. So, the first best thing to do is to plan because it important to properly know what the value that your business will provide in order to successfully capture market share. From the article I’ve read it sees that there are else to consider to create a value in an irreplicable manner that a company or business can used like the brand, process power, counter-positioning and more to create advantage.
I therefore conclude that between the two-approach value is more defensible to capture the market share since all business can lower the cost of their product to make it affordable and gain more market shares. But through improving or developing value that cannot be replicated becomes the most effective way to gain not only profit but also trust and loyalty of the consumers. Even the price of a product is high if it meetstheir satisfaction, they will always think that it has a good value. The difficultiesthat the company face in creating those tasks to achieve good quality and value becomes their advantage. The good value that satisfied the consumers need will bring the business to success.