9 Oct 2018, 15:10 — 1 min read
Definition: Market Penetration is a measure of the amount of sales or adoption of a product or service compared to the total market wallet for that product or service.
Example: The Fast Moving Consumer Goods (FMCG) giant’s market penetration strategy involved providing branded refrigerators to shopkeepers which they would then only stock with the company’s products.
Business Insight: Market penetration when quantified can be used to determine the success of a company’s marketing techniques, as well as provide insight into how its product is perceived by consumers in comparison to an identical/similar product of a competitor.
Posted byGlobalLinker Staff
We are a team of experienced industry professionals committed to sharing our knowledge and skills with small & medium enterprises.
Recommended articles for you
By Suraj Rengan
By Shiv Joshi
By Sameer Vakil