What does it mean for a company to have a high market share?

Having a high market share means that a company controls a significant portion of the industry’s sales. This indicates that the company has successfully captured a large segment of the market, which can lead to increased visibility, consumer recognition, and potentially higher profits due to economies of scale. A strong market share often reflects effective marketing strategies, strong brand loyalty, and competitive advantages such as pricing power, product superiority, or extensive distribution networks.

In contrast to this, the other options do not accurately define what high market share entails. Factors like customer satisfaction (which can be high or low regardless of market share), product quality (which can vary independently of market share), and the number of competitors, do not inherently relate to the concept of market share. Therefore, it is the significant control over sales within the industry that is the key characteristic of high market share.