Explain how to determine a company's ranking in a market

In fact, each firm would have its own strengths and weaknesses, which will be inconsistent to rank all businesses by considering all aspects of a business. Usually, the analysis will pick some common figure to compare and position businesses in the industry map. For instance, firm A might occupy the first place for generating revenue in the industry, however, firm B would capture the first place for efficient-generated profit since firm B is more effective in cost-controlling than firm A.

A firm might following below steps to identify its position in the market:

• Identify the objectives of ranking, which helps to identify the list of criteria to comparison.
• Identify the list of criteria: Depending on the objective of the comparison, each criteria should be placed a different importance weight by point system. Some criteria to rank business: value of its existing assets, revenue & profit, market shares, diversified portfolios, quality of its Human Resources, quality of its products or services, customer satisfaction, brand recognition, etc.
• Collect firm's data and market data for the benchmarking.
• Estimate the point for each criteria and sum up the total points for firm and other competitors.
• Rank the businesses by calculated points.