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Essay text:
Market share is ?the percentage or proportion of the total available market or market segment that is being serviced by a company' (Wikipedia 2006).
SUPERMARKET SHARE
Tesco: 30.6%
Asda: 16.6%
Sainsbury's: 16.3%
Morrison's: 11.1%
Somerfield: 5.4
Waitrose: 3.7%
Iceland: 1.8%
(Source TNS cited by BBC 2006)
Therefore it may give a more accurate picture in saying that the market structure in Tesco's case is oligopoly meaning there is a ?small number of large producers' (Britton et al 2005, p221) whereas a perfect competitive market would mean that it would be characterised as being price takers dependant upon supply and demand...
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