Market penetration startegy

Description:The diversification strategy is with most risk because the business is growing into both a new market and product, and thus contains with most uncertainties. Companies may alternatively pursue strategies of higher prices depending on the demand elasticity of the product, in the hope that it will generate an increased sales volume and result in higher market penetration. 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. Sales can be declining but shows opportunity for the business, it could be the perfect time to make alterations so as to grow market share. Questions, brainstorming and discussions can help distinguish whether it is the best time for market growth. Penetration pricing[ edit ] Penetration pricing is a marketing technique which used to gain market share by selling a new product for a price that is significantly lower than its competitors.

Views: 5947 Date: 2018-09-06 Favorited: 46