Questions, brainstorming and discussions can help distinguish whether it is the best time for market growth. The connection between emerging market penetration and inventory supply are bridged by several factors such as advanced inventory management practices, technologies and holding costs. When implementing change companies must be careful not to compromise their existing revenue or customers. Successful outcomes stem from careful monitoring by key staff and leaders. Market economics Marketing terminology. Market penetration is not only a strategy but also a measurement in percentage for popularity of a brand or a product in the category, in other words, the number of customers in the market that buys from a brand or product. Integrated sales and marketing management:
Some factors of market penetration are holding costs, advanced inventory management practices and technology e.
Retrieved from March 20,from http: To achieve the goal of higher market share, the primary idea is that the business has to either increase sales volume to their existing customers by encouraging for more frequent or greater usages, or expanding the population size of customers in the current market by attracting potential new customers to buy its goods or services. This article needs additional citations for verification. April Learn how and when to remove this template message. Market penetration occurs when a company penetrates a market in which current or similar products already exist.