Project on Hsbc
CHAPTER – 1 INTRODUCTION
Market penetration is one of the four growth strategies of the Product-Market Growth Matrix as defined by Ansoff. Market penetration occurs when a company enters/penetrates a market in which current products already exist. The best way to achieve this is by gaining competitors ' customers (part of their market share). Other ways include attracting non-users of your product or convincing current clients to use more of your product/service (by advertising etc.). Ansoff developed theProduct-Market Growth Matrix to help firms recognize if there was any advantage of entering a market. The other three growth strategies in the Product-Market Growth Matrix are: * Product development (existing markets, new products): McDonalds is always within the fast-food industry, but frequently markets new burgers. * Market development (new markets, existing products): Lucozade was first marketed for sick children and then rebranded to target athletes. * Diversification (new markets, new products): Mohen A.S, Bion Products, Selectron Ltd, bk
"Penetration is a measure of brand or category popularity. It is defined as the number of people who buy a specific brand or a category of goods at least once in a given period, divided by the size of the relevant market population."
This marketing technique is not very simple for some organizations, whereas for others this is very easy. This technique is when a company enters/penetrates a market in which current products already exist, and the best approved way of achieving this is by gaining competitors customers (partial market share), an alternative but less successful way is by advertising to the public about your product/service".
A measure of the amount of sales or adoption of a product or service compared to the total theoretical market for that product or service. The amount of sales or adoption can be an individual company 's sale or industry while the theoretical market
Market penetration is one of the four growth strategies of the Product-Market Growth Matrix as defined by Ansoff. Market penetration occurs when a company enters/penetrates a market in which current products already exist. The best way to achieve this is by gaining competitors ' customers (part of their market share). Other ways include attracting non-users of your product or convincing current clients to use more of your product/service (by advertising etc.). Ansoff developed theProduct-Market Growth Matrix to help firms recognize if there was any advantage of entering a market. The other three growth strategies in the Product-Market Growth Matrix are: * Product development (existing markets, new products): McDonalds is always within the fast-food industry, but frequently markets new burgers. * Market development (new markets, existing products): Lucozade was first marketed for sick children and then rebranded to target athletes. * Diversification (new markets, new products): Mohen A.S, Bion Products, Selectron Ltd, bk
"Penetration is a measure of brand or category popularity. It is defined as the number of people who buy a specific brand or a category of goods at least once in a given period, divided by the size of the relevant market population."
This marketing technique is not very simple for some organizations, whereas for others this is very easy. This technique is when a company enters/penetrates a market in which current products already exist, and the best approved way of achieving this is by gaining competitors customers (partial market share), an alternative but less successful way is by advertising to the public about your product/service".
A measure of the amount of sales or adoption of a product or service compared to the total theoretical market for that product or service. The amount of sales or adoption can be an individual company 's sale or industry while the theoretical market
Bibliography: 1. http://www.google.co.in 2. http://www.wikipedia.org