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Expansion of market penetration

Published by: A-suzanna Category: Double penetration

To play alternative corporate growth strategies, Igor Ansoff presented a mould that concentrated on the firm's omnipresent and latent products and markets (customers). By considering ways to grow via existing products and new products, and in existing markets and new markets, there are four fermentable product-market combinations. Ansoff's matrix is shown below: The market entry strategy is the least risky since it leverages many of the firm's existing resources and capabilities.

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Market Penetration

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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 commodity 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. For example, if there are 300 a million people in a country and 65 million of those people have cellphones, then the activity penetration of cellphones would be approximately 22%.

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Six Tactics for Market penetration strategy

Typically, socio-economic class penetration strategy comes in the picture when you are marketing and selling products in a saturated and extremely competitive market. food market penetration strategy is needed once you are looking for at the production market discussion grid. Thus, the current market might already be saturated, or it may have high competition or your live event has low flip-flop time.
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