Market penetration refers to the successful selling of a product or service in a specific market. It is measured by the amount of sales volume of an existing good or.
Market development and market penetration were two of four distinct company growth strategies identified by Igor Ansoff in a "Harvard Business Review" article. Market development is the use of an existing product or service offering to attract new customer market, whereas.
Definition of market penetration: The activity or fact of increasing the market share of an existing product, or promoting a new product, through strategies such as.