The formula to calculate the Market Percentage (M) is:
\[ M = \left( \frac{CS}{TMS} \right) \times 100 \]
Where:
Market percentage, also known as market share, is a metric that indicates the portion of a market controlled by a particular company or product. It is expressed as a percentage and is calculated by dividing the company’s sales by the total sales of the market. This metric is crucial for businesses to understand their position in the market relative to competitors and to strategize accordingly. A higher market percentage indicates a stronger presence in the market, while a lower percentage may suggest the need for improved marketing or product development efforts.