ANSOFF’S MATRIX - MARKET PENETRATION Flashcards
1
Q
What is market penetration
A
Market penetration: the strategy of achieving growth through targeting existing customers with existing products.
2
Q
What are examples of market penetration
A
Product - Slight alterations (size, colour etc)
Price - sales/ special offers
Promotion - reminder advertising
Place - in store displays/ positioning, home delivery
3
Q
Why is market penetration used
A
Least risky option - know customers and know products
If there has been an increase in market size
If there is the opportunity to steal market share
To consolidate market standing
4
Q
A
