market penetration

Definitions (2)
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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 รท Total sales volume of all competing products.

Use 'market penetration' in a Sentence

The market penetration generated by the new strategy was effective and our next quarters profits reflected the positive change for us.
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Sometimes there will be a big market penetration and this may have adverse affects on your business and its product.
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We had to incorporate some market penetration that would probably make us more money over the course of the year.
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