Market Penetration is a business growth strategy in which a company executes initiatives to expand the customer base for its products and services within a certain market space. Market penetration can be both a measurement, and a projection of how successful newcomer businesses have been, or will be, against the established competition.
Market penetration refers to the successful selling of a product or service in a specific market. It is measured by the amount of sales volume of an existing good or service compared to the total target market for that product or service.
Penetration is a measure of brand or category popularity. It is defined as the number of people who buy a specific brand or a category of goods at least once in a given period, divided by the size of the relevant market population.
Market penetration is a measure of the amount of sales or adoption of a product or service compared to the total theoretical market for that product or service. In addition, market penetration can also include the activities that are used to increase the market share of a particular product or service.
What is Market Penetration Rate? Marketing Metrics A list of common ways to measure marketing results.
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