Market penetration and coverage



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If the market development plan involves developing new product lines, expanding the scope of existing product lines, consider these questions:. Share your Custom Course or assign lessons and chapters. Sell more existing products or services to existing customers Sell existing products or services more frequently to existing customers Sell more existing products or services at higher prices to existing customers Sell new products or services to existing customers Sell new products or services often to existing customers Sell new products or services at higher prices to existing customers Sell existing products or services to new customers Sell new products or services to new customers Risks of Various Market Penetration Strategies Each approach has some inherent risks: A business will utilize a market penetration strategy to attempt to enter a new market. This was exactly what happened in the cell phone market when it was realized that teenagers were emerging as a key demographic. Efficiency is encouraged because of thinner profit margins due to the aggressive pricing. Register for a free trial Are you a student or a teacher?
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Market Penetration: Examples, Definition, Advantages & Disadvantages


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Market Penetration


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The Complete Guide to Market Penetration

Software Localization It comes as no surprise that software companies consider translating their product into many languages. In a market penetration strategy the market size is a fixed number. An excellent example of such a strategy would be for you to identify a change in the age distribution of your product users and to then aggressively market your product to this age group. Tutoring Solution Supplemental Business:
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