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).
MBA Brief offers accurate and concise definitions of MBA concepts, frameworks, methods and models.
We love to keep things really short, but provide links to learn more about your subject and to similar concepts.
© 2021 MBA Brief - Last updated: 14-4-2021 - Privacy | Terms