Market Leader
A market leader is a company or product that holds the largest share in a particular industry or sector, setting the standard for others to follow. Market leaders are typically recognized for their innovation, strong brand presence, and ability to influence market trends. Being a market leader often means having a competitive advantage, such as superior product offerings, economies of scale, or dominant pricing power.
Example
Apple Inc. is considered a market leader in the smartphone industry due to its large market share, brand recognition, and innovative products.
Key points
• A company or product that holds the largest market share in a particular industry or sector.
• Sets the standard for others to follow, often influencing market trends.
• Gains a competitive advantage through innovation, brand strength, or pricing power.
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