market penetration (penetration)
1. The process of entering a market to establish a new brand or product. Market penetration may be achieved by offering the brand or product at a low initial price to familiarize the public with its name. This is known as market-penetration pricing.
2. The extent to which a product or an advertisement has been accepted by, or has registered with, the total number of possible users. It is usually expressed as a percentage. Compare market share.
3. A marketing strategy based on low prices and extensive advertising to increase a product's market share. For penetration strategy to be effective the market will have to be large enough to be able to sustain low profit margins. See product–market strategy.
Monday, February 27, 2012
market penetration
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