Jun 27, 2019 · Market penetration is a measure of the amount of sales or adoption of a product or service compared to the total theoretical market for that product or service. In addition, market penetration can. Introduction to Market penetration. As soon as a company enters a new market, it strives for market penetration.The main objective behind the market penetration strategy is to launch a product, enter the market as swiftly as possible and finally, capture a sizeable market share.Market penetration is also, sometimes used as a measure to know whether a product is doing well in the market or not.
Definition of market penetration: The activity or fact of increasing the market share of an existing product, or promoting a new product, through strategies such as bundling, advertising, lower prices, or volume discounts. Dictionary Term of the Day Articles Subjects BusinessDictionary Business Dictionary. Market development and market penetration were two of four distinct company growth strategies identified by Igor Ansoff in a 1957 article. Market penetration is a strategy to dig deeper within an.
Market development and market penetration are valued strategies for sustaining and growing a business. Each has merits, and many businesses use a combination of both strategies to anchor periods of rapid growth with sustainable, long-term revenue models.