❶Market Penetration Strategy: Definition & Pros and Cons · Inevitable Steps - Header Right
- MARKET PENETRATION BUSINESSES
- THE AIM OF MARKET PENETRATION IS TO EFFECTIVELY USE YOUR PRODUCT, ENTER THE MARKET AS QUICK...
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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 also include the activities that are used to increase the market share of a particular product or service. In theory, there are still million more potential customers for cell phones, which may be a good sign of growth for cell phone makers.
Having the right market-penetration strategy — competing on price, quality and uniqueness — can determine whether your business succeeds or fails.