Marketing
If you’re looking to start or expand your business, you need to have a firm understanding of how to enter and grow within your chosen market. This requires you to take what you’ve learned during your market analysis to develop a market penetration strategy for your business.
Market penetration defenition
Market penetration is the amount that your business is able to sell a product or service to customers compared to the estimated total available market (TAM). This is a measurement that can help you define the serviceable available market (SAM), which is the portion you estimate that you can acquire. Additionally, it can serve as a baseline for developing a strategy to increase your service obtainable market (SOM), or the subset of customers that you can realistically acquire.
How to calculate market penetration
Market penetration rate = (Number of customers / target market size) x 100
Star Line Biz GmbH provides solution!
We provide
Number of customers & target market size
You do
Price adjustments
Launch a new product or service
Adjust your current products
Partner with or acquire other businesses
Adjust your marketing campaigns
Then GROW