What is Market Penetration?
Market penetration is a growth strategy where a company focuses on selling more of its existing products to its existing target market. It's about increasing your market share. Tactics for market penetration can include lowering prices, increasing marketing and promotional efforts, or finding new ways to reach your current customer base. For example, a company might launch a new partner program as a market penetration strategy, using partners to sell more of its core product to the same type of customers it already serves.