What is Market Penetration? Definition and meaning

Market Penetration

Definition: Market Penetration is a business or corporate strategy aiming at selling current products (or current services) in current markets.
It is one of the 4 growth strategies of the Ansoff Matrix (besides product development, market development and diversification).
MP occurs when a company enters or expands in a market in which current or similar products already exist. This typically requires winning customers from competitors (by advertising or horizontal integration) or attracting non-users of your product, or convincing current clients to use more of your product (e.g. by advertising).

💡

Learn more about Market Penetration.

More on business strategy: 3C's Model of Ohmae, Ansoff Matrix, Business Continuity Planning, Business Model, Business Model Canvas, more on business strategy...

You may also like: Full-time MBA, Executive MBA, Executive Education, Online MBA.

MBA Brief offers concise, yet precise definitions of concepts, methods and models as taught in a study Master of Business Administration.

We like to keep things short, and provide links to learn more about your subject.

Add MBA Brief to your desktop / iPad