Increase market penetration

Description:Too much alteration can make consumers wary so change must be implemented in a subtle manner so as to only increase market share and build on profits. Furthermore, some companies risk more and first buy products in bulk for discounts and then implement the penetration pricing strategy. Since the market penetration strategy is conducted based on established capabilities and characteristics of the business and the market, therefore it contains the lowest risk out of the four strategies in Ansoff's product-market growth matrix. Group products together to draw attention to a lesser-known product. These can include questions surrounding market share increases or decreases. Market Development While market penetration focuses on obtaining more customers from those seen as potential customers often those who have expressed an interest in the product category but not necessarily the business's specific product , market development focuses on increasing the number of potential customers.

Views: 9013 Date: 2018-09-09 Favorited: 19