market penetration

  

Definitions (2)

1.The activity or fact of increasing the market share of an existing product, or promoting a new product, through strategies such as bundling, advertising, lower prices, or volume discounts.
2.A 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.

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