Market share is the percent of sales a specific product attains in relation to the total sales of all similar products. For example, if Tide may had a 30 percent market share in the domestic detergent market, holding or maintaining its market share would be a defensive strategy that seeks to protect the market that has already been conquered (Tryon, 2011).. In addition, its managers of the product would have to defend their markets against competitor attacks. As for Redbox, they’re in the video streaming market unlike Tide. In order for Redbox leaders to maintain their market share, one recommendation would be for them to continue to have major focus on fulfilling customer needs (Ferrell, O.C., Hirt, G.A., & Ferrell, L., 2014). Redbox has a variety of stakeholders, and therefore they should be the company’s first priority. …show more content…
Today, many citizens are looking for the most convenient way to stream movies, aside from going to the movie theater. Although Kiosk’s are strategically placed at the entrances of major retail stores, often times consumers don’t want to leave their house because they’re tired. A third recommendation would be for Redbox to consider joint ventures or strategic alliances to enter the online streaming industry, in which they have already made progress toward. By partnering with verizon and offering their own streaming service in conjunction with DVD rentals, Redbox is making progress (Ferrell et al., 2014). Lastly, a recommendation to maintain its market share would be for Redbox to expand its market outside of the U.S. and become an international business as well as domestic. It can offer specialized offerings to low income families, mobile phone users to incentivize them to turn towards Redbox products that would drive its revenue and profitability (Tryon,