Market Penetration Strategy: A strategy for company growth by increasing sales of current products to current market segments without changing the product.
There are three major approaches to increasing current product's market share:
1. Encourage current customers to buy more. (Showing the benefits of the products)
2. Convince / Attract competitor’s customers. (Find out the competitors weakness)
3. Convince non-users to use the product. (Who are not using the products) Example: Star bucks management might add new stores in current market areas to make it easier for more customers to visit.
National spices: Pakistani company national
CD manufacturing company can show the benefits of storing data, threat of losing data.
How? Cut prices, increase advertising, and get products into more stores.
