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WordNet-Online
Definitions from WordNet | ||||
Definitions from the WebMarket PenetrationDefinition: Market penetration refers to the successful entry or expansion of a product or company into a particular market by increasing its sales volume or market share. Sense 1 (Noun): The extent to which a product or service is able to capture a larger share of its target market compared to its competitors. Example sentence: The company's aggressive marketing strategy led to a significant increase in market penetration, outperforming its rivals. Sense 2 (Noun): The percentage of the total available market that has been reached or served by a particular product or company. Example sentence: Despite being a well-established brand, the company's market penetration remained low, indicating room for growth. Sense 3 (Noun): The process of introducing a new product into an existing market to gain a foothold and expand customer base. Example sentence: The smartphone manufacturer adopted a market penetration strategy by offering affordable devices with premium features. Sense 4 (Advertising): The act of increasing brand awareness and customer engagement through targeted advertising and promotion. Example sentence: The marketing team devised a market penetration campaign to penetrate new demographics and boost sales. Sense 5 (Business Strategy): A planned approach to increase market share by reducing prices, offering discounts, or improving product quality. Example sentence: The company executed a successful market penetration strategy by slashing prices, attracting a larger customer base. Related products on Amazon: | ||||
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