13 Facts About Market penetration

Market penetration refers to the successful selling of a good or service in a specific market.

Market penetration refers to ways or strategies that are proposed or adopted so as to be able to create a niche in the already existing market.

Market penetration is one of the four growth strategies of the Product-Market Growth Matrix as defined by Ansoff.

Market penetration occurs when a company penetrates a market in which current or similar products already exist.

Market penetration refers to the successful selling of a product or service in a specific market, and it is a measure of the amount of sales volume of an existing good or service compared to the total target market for that product or service.

Market penetration is a way to determine the success of the business model and marketing strategy for a product.

Market penetration is a tool for understanding the potential earnings of a business and is integral to calculating a resourceful business model.

Since the market penetration strategy is conducted based on established capabilities and characteristics of the business and the market, therefore it contains the lowest risk out of the four strategies in Ansoff's product-market growth matrix.

Market penetration is not only a strategy but a measurement for popularity of a brand or a product in the category, in other words, the number of customers in the market that buys from a brand or product.

Market penetration begins to raise the price of the product once it has achieved a large customer base and market share.

Market penetration development aims at non-buying shoppers in targeted markets and new customers in order to maximise the potential market.

Market penetration can be defined as the proportion of people in the target who bought a specific brand or a category of goods.

The penetration rate is the percentage of the relevant population that has purchased a given brand or category at least once in the time period under study.