Which term refers to the percentage of total industry sales that a specific company holds?

The correct choice, which refers to the percentage of total industry sales that a specific company holds, is market share. Market share is a crucial metric that indicates how well a company is performing in comparison to its competitors within the same industry. It provides insights into the company's relative size and competitiveness in the market. A higher market share suggests that the company has a strong position and may benefit from economies of scale, brand recognition, and customer loyalty. It is commonly used by businesses and analysts to gauge performance and strategize for growth.

Other terms do not accurately represent this concept. Market penetration refers to the strategies and efforts made to increase sales within existing markets, not the actual share of sales. Market dominance describes a company's ability to exert significant influence in the market but does not measure its share of total sales specifically. Market appeal relates to the attractiveness of a product or service to consumers, which is unrelated to the percentage of sales held by a company.