market penetration definition

market penetration

Increasing market share of an existing product, or promoting a new product, through strategies such as bundling, extensive advertising, lower prices, or volume discounts.

Measure of the extent of a product's sales volume relative to the total sales volume of all competing products, expressed as a percentage. Formula: Sales volume of a product x 100 ÷ Total sales volume of all competing products.

market penetration is in the Advertising, Marketing, & Sales subject.

market penetration appears in the definitions of the following terms: Ansoff matrix, market penetration pricing, growth strategy, public domain, affiliate marketing and product-market growth matrix

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