Using the data in Extract D, calculate Nike's market share of worldwide sports footwear in 2018 - Edexcel - A-Level Business - Question 2 - 2022 - Paper 1
Question 2
Using the data in Extract D, calculate Nike's market share of worldwide sports footwear in 2018. State your answer to 2 decimal places. You are advised to show your ... show full transcript
Worked Solution & Example Answer:Using the data in Extract D, calculate Nike's market share of worldwide sports footwear in 2018 - Edexcel - A-Level Business - Question 2 - 2022 - Paper 1
Step 1
Calculate Nike's Sales in 2018
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Answer
Nike's sales in 2018 is given as $22.3bn.
Step 2
Calculate Total Sports Footwear Sales in 2018
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Answer
To calculate the total sales:
egin{align*}
Total ext{ sales} &= Nike + Adidas + Asics + Puma + Under Armour + ext{Other Brands}
&= 22.3 + 14.9 + 10.7 + 2.4 + 1.0 + 16.7
&= 60.1 ext{ billion dollars}
ext{(confirmed by adding the values from the chart)}
ext{Total sales value of sports footwear brands in 2018 = }$60.1bn.
Step 3
Calculate Nike's Market Share
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Answer
Nike's market share can be calculated using the formula:
extMarketShare=(Total Value of SalesValue of Sales (Nike))×100
Plugging in the numbers gives us:
extMarketShare=(60.122.3)×100=37.07%
Rounded to 2 decimal places, Nike's market share is 37.07%.
