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Market penetration

 
Marketing Dictionary: market penetration
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Depth of sales of a particular product in a given market. The deeper the penetration, the higher the volume of product sales. In order to expand the sales of current products in markets where their products are already being sold, marketers utilize market penetration strategies such as cutting prices, increasing advertising, obtaining better store or shelf positions for their products, or innovative distribution tactics.

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Business Dictionary: Market Penetration
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1. Marketing strategy used by a manufacturer to increase the sales of a product within an existing market through the employment of more aggressive marketing tactics.

2. Degree to which a particular product is purchased in a particular market.

WordNet: market penetration
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Note: click on a word meaning below to see its connections and related words.

The noun has one meaning:

Meaning #1: the extent to which a product is recognized and bought by customers in a particular market

Wikipedia: Market penetration
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Other growth strategies include:

  • Product development (existing markets, new products): McDonalds is always within the fast-food industry, but frequently markets new burgers.
  • Market development (new markets, existing products): Lucozade was first marketed for sick children and then rebranded to target athletes.
  • Diversification (new markets, new products): Mohen A.S, Bion Products, Selectron Ltd, bk

The penetration that brands and products have can be recorded by companies such as ACNielsen and TNS who offer panel measurement services to calculate this and other consumer measures. In these cases penetration is given as a percentage of a country's households who have bought that particular brand or product at least once within a defined period of time.


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Copyrights:

Marketing Dictionary. Dictionary of Marketing Terms. Copyright © 2000 by Barron's Educational Series, Inc. All rights reserved.  Read more
Business Dictionary. Dictionary of Business Terms. Copyright © 2000 by Barron's Educational Series, Inc. All rights reserved.  Read more
Real Estate Dictionary. Dictionary of Real Estate Terms. Copyright © 2004 by Barron's Educational Series, Inc. All rights reserved.  Read more
WordNet. WordNet 1.7.1 Copyright © 2001 by Princeton University. All rights reserved.  Read more
Wikipedia. This article is licensed under the Creative Commons Attribution/Share-Alike License. It uses material from the Wikipedia article "Market penetration".  Read more