market penetration
Capturing customer share
Market penetration is the extent to which a product or service has spread through its potential customer base, usually expressed as a percentage: The smartphone has achieved near-total market penetration in developed countries.
As a business strategy, market penetration means increasing sales of existing products in existing markets—through lower prices, more advertising, or broader distribution.
Their market penetration strategy focused on undercutting competitors' prices.
- priceMonetary value assigned
- price pointSet retail cost level
- first moverOne acting before others
- customer acquisitionWinning new paying clients
- barriers to entryFactors blocking market access
early adopters · competitive advantage · inroads · foothold · distribution channels · traction · growth hacking · low hanging fruit · consumer base · sale · pricing strategy · brand loyalty · competitive analysis · percentage · sales funnel · customers · audience engagement · entry
market penetrationdivestment
Disposal of assets
retrenchment · contraction · market failure · downsizing · liquidation
market penetrationdiversification
Expanding into varied areas
product development · market expansion · product innovation · vertical integration · brand awareness
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