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).



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


© 2020 MBA Brief - Last updated: 2-4-2020  -  Privacy   |   Terms