Though, market penetration strategy doesn’t work for all products and businesses, so some companies use different marketing strategies that seem to be more beneficial. Advantages of Market Penetration Strategy. Fast Growth – If your business and marketing objective is to enlarge your consumer base, then market penetration is the most Author: Walter White. Having the right market-penetration strategy – competing on price, quality and uniqueness – can determine whether your business succeeds or fails. When you start your business, you have to.
Market penetration is one of the four alternative growth strategies in the Ansoff Matrix. A market penetration strategy involves focusing on selling your existing products or services into your existing markets to gain a higher market share. This is the first strategy most organizations will consider because it carries the lowest amount of risk. Mar 03, 2018 · Typically, market penetration strategy comes in the picture when you are marketing and selling products in a saturated and highly competitive market. Market penetration strategy is needed when you are looking at the product market expansion grid. Thus, the current market might already be saturated.
3 Examples of Market Penetration posted by John Spacey, January 04, 2017 Market penetration is the percentage of your target market that purchased your product or service in a period of time.