Your role in the discussion senior executives will have in defining their strategy is that of providing the market intelligence or customer feedback that helps to inform the executive team of the current dynamics of the market. With a mature market there are no more demographic sectors to exploit and the only way to attain market share is to take it from competitors. We had to incorporate some market penetration that would probably make us more money over the course of the year. For example, if your current customer base consists of men aged between 16 and 25 then this strategy would involve attempting to sell more of your existing products or services to this same group.
Consumers mostly fall for the trick because the interest and curiosity that the improved product drives are irresistible. One key constraint is that you cannot allow anything in your drive to grow market share to compromise your existing success. Everything you need is here.
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Market Penetration Strategy
Consumers mostly asian singers list for the trick because the interest and curiosity that the improved product drives are irresistible. It relies on you having successful products in a market that you already know well. Missed Opportunities — Brands that produce luxury products often make mistakes like marketing it as a cheap item. An excellent example of such a strategy would be for you to identify a change in the age distribution of your product users and to then aggressively market your product to this age group. If the team's chosen approach defines the growth market as a 'new' one then a market penetration strategy will be replaced with one of market development, which market penetration strategy definition covered in the next section.
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