Greater market penetration
In theory, there are still million more potential customers for cellphones, which may be a good sign of growth for cellphone makers.
In general, older offerings or industries have greater market penetrations. Market penetration encompasses the activities used to gain additional market share, such as advertising and price.
Market penetration refers to the successful selling of a product or service in a specific market. It is measured by the amount of sales volume of an existing good or service compared to the total target market for that product or service. Market penetration is the key performance metric for a business growth strategy stemming.
Description:Here are a few ideas for that: Non users to start the product Encouraging non users to start using the product is a tough task and this is where the marketing department steps in. From that point, you can calculate the total number of potential customers nationwide using U. If you look at toothpaste brands, they encourage two time use of toothbrush and toothpaste not only because it is hygienic, because toothpaste consumption will happen double fast if brushing is done 2 times in a day. It relies on you having successful products in a market that you already know well. Market development may be as simple as low-cost as expanding an existing customer mailing list by buying third-party mailing lists in the interest of targeting new customer demographics. Does the business have the expertise and skills to produce and deliver what it proposes?