Market Penetration - Business concept of the day
Marketing
9 Oct 2018, 17:40 — 1 min read
Definition: Market Penetration is a measure of the amount of sales or adoption of a product or service compared to the total market wallet for that product or service.
Example: The Fast Moving Consumer Goods (FMCG) giant’s market penetration strategy involved providing branded refrigerators to shopkeepers which they would then only stock with the company’s products.
Business Insight: Market penetration when quantified can be used to determine the success of a company’s marketing techniques, as well as provide insight into how its product is perceived by consumers in comparison to an identical/similar product of a competitor.
Posted by
GlobalLinker StaffWe are a team of experienced industry professionals committed to sharing our knowledge and skills with small & medium enterprises.
Network with SMEs mentioned in this article
View GlobalLinker 's profile
Other articles written by GlobalLinker Staff
10 Quotes on Profit by Successful CEOs and Founders
16 May 2023, 17:33
3 Easy Solutions to Plug Your Leaking Sales Funnel
21 Mar 2023, 16:24
5 Must-Have Emails for Your Online Store
15 Feb 2023, 12:30
Most read this week
Comments (5)
Please login or register to join the discussion