Loud Thinking August 05, 2014 at 11:13AM

Some very nice and simple talk about Market Share, Mind Share and Heart Share:

Market share is the competitors’ share of the target market which may be calculated as Market Share = Firm’s Sales / Total Market Sales.

Mind share is calculated by the percentage of consumers who identified the competitor when responding to a question asking them to name the first company they think of when thinking of a specific industry.

Heart share is calculated by the percentage of consumers who identified the competitor when responding to a question asking them to name a company from whom they would prefer to buy a product.

Analyzing the relationship between these three measures can assist a company in focusing on weak areas for improvement and strong areas for leverage.

Amarjeet Singh
Marketing Executive

Heart Share – first thing that you can relate to or prefer over number of given options or choices.

Totally based on personal experience and can vary from person to person.

For example – Whenever there is a new born – many individuals prefer Johnson n Johnson over any other baby care product – its because of their personal experience attached to it.

Mind Share – Its more to do with Brand Recall – efforts made by Agency or Brand itself to have its impact on customers – For example – here in Pakistan we associate Rooh-e-Afza as a Ramadan Drink – This is because of efforts made by agency or brand itself to position itself this way.

Market Share – now this is an entire reflection of Heart Share + Mind Share in terms of Revenue it generates.

For example – Honda Motor Cycle – amazing branding and amazing heart share 🙂 you can see its revenues

Munir Sharif
Senior Brand Manager

Tags: My Views