Question

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?

Answer 1

Answer:

The current share of Anne-Marie's in market is 10%.

Explanation:

Achieve total sales = $ 3 million

Entire industry sales =  $ 30 million

Lets find the share of Anne-Marie's in the current market

The share of Anne-Marie's in market is S

$S=\dfrac{total\ sales}{market\ sales}$

Now by putting the values in the above formula

$S=\dfrac{total\ sales}{market\ sales}$

$S=\dfrac{3}{30}$

S= 0.1

Percentage S= 0.1 x 100

S =10 %

So the current share of Anne-Marie's in market is 10%.

Answer 2

Anne-Marie’s current market share is about 30 million