This refers to an organisation with the largest share in a market.
The market may be for a particular product type, for example oven cleaners, or a whole range, for example domestic cleaning products. The market may also be geographically based, for example the market for oven cleaners in Europe; or sector based, for example business or consumer electronics. Market leaders typically set the pricing and performance standards for their market and can use that strength to reduce competition; they risk stagnating and being overtaken by new entrants.
Market leader is a term normally found in marketing and strategic management.
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