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What is Share of Market (SOM)?

Share of Market (SOM) is a term used in marketing to refer to the percentage of the total market for a product or service that a company controls. It represents the proportion of the market that a company's products or services account for, relative to the total market size.

SOM is calculated by dividing a company's total sales in a particular market by the total sales of all competitors in that market. For example, if a company has $10 million in sales in a market where the total sales for all competitors is $100 million, the company's SOM is 10%.

SOM is a useful metric for companies to understand their position in the market and to track their performance relative to their competitors. It can also be used to set marketing and sales targets and to allocate resources for product development and marketing efforts.

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