Market Penetration Strategy
Increasing market share for existing products through tactics like competitive pricing, promotions, and improving distribution. It can boost sales and brand presence but often involves aggressive tactics and can lead to price wars.
Related Tactics
| Name | Description | Difficulty | Cost |
|---|---|---|---|
| Amazon Sponsored Products | Amazon Sponsored Products are ads for specific products listed on Ama… |
Intermediate
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Medium
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| Conduct competitor analysis to understand positioning gaps | Analyzing your competitors helps you find gaps in the market and area… |
Intermediate
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Medium
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| Conduct market research to continuously refine product positioning | Understanding your audience by conducting research helps refine your … |
Intermediate
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Medium
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| Conduct market research to understand barriers to entry and address them | Dig into the market landscape to pinpoint what’s keeping you out. Whi… |
Intermediate
|
Medium
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| Conduct market research to understand competitors' pricing strategies | Want to stay ahead of your competition? Conducting market research to… |
Intermediate
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Medium
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| Create dedicated marketing campaigns tailored to the new markets or products | Tapping into new markets or launching new products? Customized market… |
Intermediate
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Medium
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| Create limited-time offers to create urgency and boost sales | Create a sense of urgency and drive more sales with limited-time offe… |
Intermediate
|
Medium
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| Develop a clear business plan outlining objectives, roles, and responsibilities | Creating a business plan sets a clear path by defining goals, roles, … |
Intermediate
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Medium
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| Develop pilot programmes to test new products or services in different markets | Testing new products or services in different markets via pilot progr… |
Intermediate
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Medium
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| Distribute flyers in high-traffic areas or events | Handing out flyers in bustling areas or at events is a straightforwar… |
Intermediate
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Medium
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| Google Display Ads | Google Display Ads allow you to show your ads across a vast network o… |
Intermediate
|
Medium
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| Google Local Services Ads | Google Local Services Ads help local service providers appear at the … |
Intermediate
|
Medium
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| Google Search Ads | Ads that pop up when you search for stuff on Google. They can be real… |
Intermediate
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Medium
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| Google Shopping Ads | Google Shopping Ads are a powerful tool for showcasing your products … |
Intermediate
|
Medium
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| Host pop-up events in high-traffic areas to maximise exposure | Imagine creating buzz with pop-up events in busy areas. It's perfect … |
Intermediate
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Medium
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| Identify and define a specific niche market to target | Finding and focusing on a specific niche market can give your busines… |
Intermediate
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Medium
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| Identify high-traffic locations for temporary pop-up shops | Scouting for the perfect high-traffic locations for your pop-up shop … |
Intermediate
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Medium
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| Identify new geographic regions for market expansion | Picking new geographic regions for expansion can increase customer re… |
Intermediate
|
Medium
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| Identify potential partners with a similar target audience but different products | Partnering with businesses that share your target audience but offer … |
Intermediate
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Medium
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| Include coupons or special offers in newspaper ads | Including coupons or special offers in newspaper ads is a classic way… |
Intermediate
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Medium
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| Increase distribution channels to widen product availability | Expanding distribution channels means making your product available i… |
Intermediate
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Medium
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| Invest in out-of-home advertising (billboards, transit ads) in high-traffic areas | Out-of-home advertising using billboards and transit ads in high-traf… |
Intermediate
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Medium
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| Launch market-specific websites or landing pages | Creating market-specific websites or landing pages helps you cater di… |
Intermediate
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Medium
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| Leverage click-and-collect or buy-online-pickup-in-store (BOPIS) options | Click-and-collect or buy-online-pickup-in-store (BOPIS) makes shoppin… |
Intermediate
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Medium
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| Measure ad impact through sales and brand lift studies | Measuring ad impact through sales and brand lift studies helps you un… |
Intermediate
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Medium
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| Microsoft Shopping Ads | Microsoft Shopping Ads are great for getting your products in front o… |
Intermediate
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Medium
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| Monitor competitor ad strategies and adjust accordingly | Keeping an eye on your competitors' ad strategies allows you to stay … |
Intermediate
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Medium
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| Offer a limited-time discount or promotion for early adopters | Attract new customers quickly by offering a limited-time discount or … |
Intermediate
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Medium
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| Offer competitive pricing to attract more buyers | Offering competitive pricing is a straightforward way to attract more… |
Intermediate
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Medium
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| Offer competitive pricing to attract more sales | Everyone loves a good deal! Offering competitive pricing can signific… |
Intermediate
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Medium
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| Offer exclusive deals or discounts on flyers | Offering exclusive deals or discounts on flyers is a great way to cat… |
Intermediate
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Medium
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| Offer first-time customer discounts to encourage trial | First-time customer discounts are amazing for bringing in newbies to … |
Intermediate
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Medium
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| Offer introductory discounts or trials for first-time customers | Offering introductory discounts or trials entices potential customers… |
Intermediate
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Medium
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| Offer introductory pricing or discounts for new products | Introductory pricing or discounts are a great way to draw in new cust… |
Intermediate
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Medium
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| Participate in eBay’s global shipping programme for wider reach | Expand your reach by using eBay's Global Shipping Program. It simplif… |
Intermediate
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Medium
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| Partner with local retailers to reach a broader audience | Connecting with local retailers can widen your customer base. This ap… |
Intermediate
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Medium
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| Regularly review joint venture performance and make strategic adjustments | Keeping an eye on joint venture performance ensures you stay on track… |
Intermediate
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Medium
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| Run aggressive pricing promotions to increase market share | Run aggressive pricing promotions to capture a larger market share qu… |
Intermediate
|
Medium
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| Run geo-targeted campaigns to focus on specific regions | Geo-targeted campaigns hone in on specific regions to make sure your … |
Intermediate
|
Medium
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| Run pilot programmes to test market viability before a full launch | Testing the waters with a pilot program helps gauge market interest b… |
Intermediate
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Medium
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| Tailor marketing messages to appeal to new demographics or regions | Adjusting your marketing messages to resonate with new demographics o… |
Intermediate
|
Medium
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| Target ads to specific regions or demographics | By focusing ads on specific regions or demographics, businesses can r… |
Intermediate
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Medium
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| Use PPC and social media ads to attract new customers | Attract new customers with PPC and social media ads by targeting spec… |
Intermediate
|
Medium
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| Use a phased approach to enter new markets gradually | Entering new markets gradually helps in understanding market dynamics… |
Intermediate
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Medium
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| Use data-driven insights to guide strategic decision-making | Using data-driven insights to guide strategic decisions can give you … |
Intermediate
|
Medium
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| Use geo-targeting to reach specific locations | Geo-targeting aims to reach audiences in specific locations by showin… |
Intermediate
|
Medium
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| Use internet radio for geo-targeted ad campaigns | Internet radio can be a potent channel for geo-targeted ad campaigns.… |
Intermediate
|
Medium
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| Use joint marketing efforts to reach new customer segments | Want to tap into new customer segments? Partnering with other brands … |
Intermediate
|
Medium
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| Use market research to identify emerging opportunities and threats | Using market research helps you uncover new business opportunities an… |
Intermediate
|
Medium
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| Use postcards as part of a direct mail campaign | Postcards can be a tactile and personal way to engage your audience d… |
Intermediate
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Medium
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| Use promotions strategically to attract price-sensitive customers | Special deals or discounts can grab the attention of those who are mi… |
Intermediate
|
Medium
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| Use street furniture ads for localised campaigns | Street furniture ads are amazing for driving hyper-local engagement —… |
Intermediate
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Medium
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| Use targeted PPC campaigns to capture competitive market segments | Targeted PPC campaigns are a great way to get your brand in front of … |
Intermediate
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Medium
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| Use time-series analysis to anticipate market trends and seasonality | Time-series analysis helps you identify market trends and seasonal pa… |
Intermediate
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Medium
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| Utilise eBay’s Markdown Manager for sales and promotions | By using eBay’s Markdown Manager, you can easily schedule promotions … |
Intermediate
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Medium
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| Utilise existing brand equity to introduce new products or services | Take advantage of your brand's existing reputation to introduce new p… |
Intermediate
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Medium
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| Utilise local influencers to build trust in new markets | Build trust with local influencers who can connect with their communi… |
Intermediate
|
Medium
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| Yahoo Audience Ads | Yahoo Audience Ads help you reach your specific audience with tailore… |
Intermediate
|
Medium
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Related Tools
| Name | Description | Pricing | Ease of Use |
|---|---|---|---|
| App Annie | App Annie is a leading mobile analytics and market data platform desi… |
Paid Only
|
Moderate
|
| Apple Search Ads Platform | Apple Search Ads Platform empowers marketers to effectively reach iOS… |
Paid Only
|
Moderate
|
| Blip Billboards | Blip Billboards is an innovative outdoor advertising platform that re… |
Paid Only
|
Moderate
|
| ClassPass | ClassPass is a versatile marketing tool designed to enhance customer … |
Paid Only
|
Moderate
|
| Euromonitor | Euromonitor is a leading market research tool that empowers marketing… |
Paid Only
|
Moderate
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| Geopath | Geopath is a leading marketing tool that provides marketers with adva… |
Paid Only
|
Moderate
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| GfK | GfK is a pivotal marketing tool that empowers professionals with data… |
Paid Only
|
Moderate
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| Gingr | Gingr is a comprehensive marketing tool designed to enhance customer … |
Paid Only
|
Moderate
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| Google Ads | Google Ads is a comprehensive online advertising platform that enable… |
Paid Only
|
Moderate
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| Google TV Ads | Google TV Ads is a powerful marketing tool that enables advertisers t… |
Paid Only
|
Moderate
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| Kantar | Kantar is a leading marketing insights and consulting company that em… |
Paid Only
|
Moderate
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| Lamar Advertising Digital Network | Lamar Advertising Digital Network is a sophisticated marketing platfo… |
Paid Only
|
Moderate
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| Market Leader | Market Leader is a cutting-edge marketing tool designed to empower pr… |
Paid Only
|
Moderate
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| Mintel | Mintel is a leading market intelligence agency that provides comprehe… |
Paid Only
|
Moderate
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| Nielsen | Nielsen is a global leader in audience measurement, data, and analyti… |
Paid Only
|
Moderate
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| Nielsen Audio | Nielsen Audio provides comprehensive audience measurement data for th… |
Paid Only
|
Moderate
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| Nielsen TV Ratings | Nielsen TV Ratings provides comprehensive audience measurement and in… |
Paid Only
|
Moderate
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| OpenTable | OpenTable is a leading platform designed to streamline restaurant res… |
Paid Only
|
Moderate
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| SchoolMint | SchoolMint is a comprehensive marketing tool designed to streamline e… |
Paid Only
|
Moderate
|
| Sellbrite | Sellbrite is a robust e-commerce management platform designed to stre… |
Paid Only
|
Moderate
|
| ServiceTitan | ServiceTitan is a comprehensive marketing tool designed to streamline… |
Paid Only
|
Moderate
|
| Shopify | Shopify is a robust e-commerce platform designed to empower businesse… |
Paid Only
from $39.00/mo
|
Moderate
|
| Square for Retail | Square for Retail streamlines operations for retail businesses by int… |
Paid Only
|
Moderate
|
| Stripe | Stripe is a leading financial infrastructure platform that enables bu… |
Paid Only
|
Moderate
|
| Tracxn | Tracxn is a comprehensive market intelligence platform designed to em… |
Paid Only
|
Moderate
|
| TripActions | TripActions is a comprehensive travel management platform designed to… |
Paid Only
|
Moderate
|
| Walmart Sponsored Products Platform | Walmart Sponsored Products Platform is a robust advertising tool desi… |
Paid Only
|
Moderate
|
| Yahoo Audience Insights Tool | The Yahoo Audience Insights Tool is a powerful analytics platform des… |
Paid Only
|
Moderate
|
| eBay Promoted Listings Tool | The eBay Promoted Listings Tool empowers marketers by enhancing produ… |
Paid Only
|
Moderate
|
| eBay Promotions Manager | eBay Promotions Manager is a sophisticated tool designed to optimize … |
Paid Only
|
Moderate
|
| eBay Terapeak Product Research | eBay Terapeak Product Research is a powerful analytical tool designed… |
Paid Only
|
Moderate
|
Pros
- Increased sales volume: Penetrating the market more deeply can lead to higher sales volumes as you attract more customers.
- Enhanced brand recognition: Greater market penetration increases brand visibility and recognition, making your products more familiar to consumers.
- Economies of scale: Higher sales volumes can reduce per-unit costs due to economies of scale in production and distribution.
- Improved market share: A successful penetration strategy can significantly increase your market share, positioning your brand as a leader in the industry.
- Customer loyalty: As your brand becomes more prevalent, customer loyalty can increase due to frequent exposure and familiarity.
- Barrier to entry: Increased market share can make it harder for new competitors to enter the market, protecting your position.
- Cash flow benefits: Higher sales volumes can improve cash flow, providing more resources for reinvestment and growth initiatives.
Cons
- Price wars: Aggressive pricing strategies can lead to price wars with competitors, eroding profit margins and reducing overall profitability.
- Increased costs: Marketing campaigns, promotions, and improved distribution channels can significantly increase costs, impacting the bottom line.
- Short-term focus: Market penetration strategies often focus on short-term gains, potentially neglecting long-term brand development and sustainability.
- Resource strain: Intensified efforts to penetrate the market can strain company resources, including staff, finances, and operational capacities.
- Competitor retaliation: Competitors may respond aggressively to your market penetration efforts, leading to increased competition and potential market share loss.
- Quality compromise: Cutting prices or increasing production rapidly to penetrate the market may lead to compromises in product quality or customer service.
- Market saturation: There is a risk of saturating the market, leading to diminishing returns and the necessity to explore other strategies for growth.