Define the term "market leadership." Why do firms work hard to obtain market leadership? What will be an ideal response?

Market leadership is the company's position with the largest market share in a specific market for services and goods. The evaluation is done as per the value of the goods or their volume. A market leader enjoys the largest percentage of total sales in the market. A company deems itself the market leader when it is the first to offer a product or service. Firms work hard to obtain market leadership as it allows the company to showcase the benefits of their products and services better. They use this useful information to enhance the attributes of the products so that it can offer better variants in the market.