Example of market penetration










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The data you provide will help the team decide whether a growth market is an extension of the current market or is truly a 'new' market. This would involve focusing on the areas of sales and marketing responsible for managing the pricing and promotion of the product. You need to be aware of what has made the product a success so far and ensure that nothing you do will undermine it. This can be achieved in four ways. The key role you are likely to be asked to perform is capturing the intelligence that is required to make informed decisions. Maintain or increase the market share of current products You can achieve this by adopting a strategy that is made up of a combination of competitive pricing strategies, advertising, and sales promotion. This strategy involves selling more to current customers and to new customers who can be thought of as being in the same marketplace. Your role in the discussion senior executives will have in defining their strategy is that of providing the market intelligence or customer feedback that helps to inform the executive team of the current dynamics of the market. Previously it had been users in their 20s who were seen as the biggest group of first-time users. There are four approaches you can adopt when implementing this strategy.

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Aug 1, There are many market penetration examples that have been tried and tested for retail expansion strategies. The recipe for success is always.


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Description: This strategy requires an aggressive promotional campaign, supported by a pricing strategy designed to make the market unattractive for smaller competitors. One key constraint is that you cannot allow anything in your drive to grow market share to compromise your existing success. There are several tactics you could use to do this, including loyalty schemes, adding value to the current product, or making alterations to the product that encourage greater use. Increase usage by existing customers Another approach to market penetration is to persuade your existing customers to use your product or service more frequently. Substantial growth in market share and dominance in this sector was achieved by ensuring cell phone companies' promotions met the needs of this younger group. Management Templates Management Checklists. This strategy involves selling more to current customers and to new customers who can be thought of as being in the same marketplace. You need to be aware of what has made the product a success so far and ensure that nothing you do will undermine it. The data you provide will help the team decide whether a growth market is an extension of the current market or is truly a 'new' market. Market penetration is one of the four alternative growth strategies in the Ansoff Matrix.
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