Market penetration strategy marketing

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Market penetration is one of the four alternative growth strategies in the Ansoff Matrix. A market penetration strategy involves focusing on selling your existing products or services into your existing markets to gain a higher market share. This is the first strategy most organizations will consider because it carries the lowest amount of risk. This strategy involves selling more to current customers and to new customers who can be thought of as being in the same marketplace.
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Everything You Need To Know About Market Penetration

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Market penetration - Wikipedia

If your SaaS startup is looking for low-risk business growth strategies, creating a market penetration strategy should be one of the first things you think about. Depending on where you look, the market penetration definition could be misleading, as there are two different meanings. As shown below, market penetration can be defined as either a measurement or an activity. In this article, we will review both market penetration definitions and how they relate to SaaS. Market penetration defined as a measurement is the assessment of how much a product is being sold relative to the total estimated market for that product, expressed as a percentage. This is also known as market penetration rate.
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Marketing strategy

Market penetration is a measure of how much a product or service is being used by customers compared to the total estimated market for that product or service. Market penetration can also be used in developing strategies employed to increase the market share of a particular product or service. Market penetration can be used to determine the size of the potential market.
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Usually, it is applied to merchandise that is selling in a specific geography. It doesn't matter what line of business you are in - whether you run a large technology firm or you are a solopreneuer, you need a game plan. Your game plan must be tailor-made to your objectives, industry, and opportunities. An integral aspect of the aforementioned strategic plan is a marketing plan.
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