Market penetration strategy marketing

Market penetration strategy is needed when you are looking at the product market expansion grid. Work With Investopedia About Us Advertise With Us Write For Us Contact Us Careers. With the findings from the primary and secondary research stages in hand, it becomes possible to formulate a reliable market penetration plan. Done well, market penetration yields valuable gains in market share. The penetration rate also called penetration, brand penetration or market penetration as appropriate is the percentage of the relevant population that has purchased a given brand or category at least once in the time period under study. This page was last edited on 8 July , at

For example, if the target market was calculated at 50,, multiply that by. That means building an internationally recognized brand is a legitimate possibility for an increasing number of companies. With the consumers attention span becoming less and less, organizations need to constantly keep on top of competitors to stay relevant.