Increasing the Penetration Rate Of your Brand In the Market
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 can be the total population or an estimate of total potential consumers for the product. Market penetration is one of the four growth strategies of the Product-Market Growth Matrix defined by Ansoff. Market penetration occurs when a company enters/penetrates a market with current products. 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). An off developed the Product-Market Growth Matrix to help firms recognize if there was any advantage of entering a market.
Understand your customer, their needs, and their intentions.
Decipher the search patterns to reveal new markets left untapped by yourself and your competition.
An entirely new market can be found in a matter of days.
A Strategy to effectively penetrate that market follows behind naturally.
Market share can be gained by analyzing your competitors
Find out what keywords they bid for on Google ad words
Review their site to see keyword strategy
Reverse check the links that point to their site to find out if they:
Use articles
Directories
Press releases
Link exchanges
Blogs
Video blogs
Social media
Joint Ventures
Affiliates
Knowing what the top three players are doing will give you a path. Typically they are all doing something different and the one that does all three tactics will gain the lion’s share of the market.
Increase Market Penetration Through[/b][/b]
Keeping pace with the market is rarely easy. Equally important to understanding current market conditions is the need to anticipate and prepare to respond to future market dynamics.
When executives retain The Marketing Consortium they gain access to years of market savvy including crisis hostile market response and turnaround experience.
The ability to quickly analyze disparate data to provide a clear solution is part of what makes The Marketing Consortium valued by clients and unique among counterparts.
The Marketing Consortium understands the difference between growing share and profitable share growth and directs clients accordingly.
Market penetration is the proportion of a potential market who actually buy a product or service.
Market penetration is a key issue in assessing the growth prospects for an industry. It is usually fairly straightforward to assess the potential market for a product: the number of sales it could make if everyone who could reasonably buy it, did. What proportion of those people actually become paying customers of an industry is another matter.
Market penetration strategy can be implemented by offering sales, Increasing sales force, increase distribution and promotion of products, more expenditure in marketing and advertising activities will results in increasing sales. It is not guaranteed that market penetration fully works after investing in sales and marketing of products and services, a firm should go for this strategy only if any below of the desirable situation exists.
Market Penetration Strategies Of Maggi Noodles
Promotional campaigns in schools
Advertising Strategies
Power of 5
Availability in different pack sizes
New product innovations
Brand Recall and Future Trends
Introducing a fictitious character who can connect with kids for better brand recall
Organizing contests , games and industrial visits for school kids to further strengthen the brand image
Invite Housewives to send new innovative recipes made from Maggi and introduce rewards for the same
Foray into the Chinese food segment by introducing branded products for chowmeen, schezwan and hakka noodles
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 can be the total population or an estimate of total potential consumers for the product. Market penetration is one of the four growth strategies of the Product-Market Growth Matrix defined by Ansoff. Market penetration occurs when a company enters/penetrates a market with current products. 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). An off developed the Product-Market Growth Matrix to help firms recognize if there was any advantage of entering a market.
Understand your customer, their needs, and their intentions.
Decipher the search patterns to reveal new markets left untapped by yourself and your competition.
An entirely new market can be found in a matter of days.
A Strategy to effectively penetrate that market follows behind naturally.
Market share can be gained by analyzing your competitors
Find out what keywords they bid for on Google ad words
Review their site to see keyword strategy
Reverse check the links that point to their site to find out if they:
Use articles
Directories
Press releases
Link exchanges
Blogs
Video blogs
Social media
Joint Ventures
Affiliates
Knowing what the top three players are doing will give you a path. Typically they are all doing something different and the one that does all three tactics will gain the lion’s share of the market.
Increase Market Penetration Through[/b][/b]
Keeping pace with the market is rarely easy. Equally important to understanding current market conditions is the need to anticipate and prepare to respond to future market dynamics.
When executives retain The Marketing Consortium they gain access to years of market savvy including crisis hostile market response and turnaround experience.
The ability to quickly analyze disparate data to provide a clear solution is part of what makes The Marketing Consortium valued by clients and unique among counterparts.
The Marketing Consortium understands the difference between growing share and profitable share growth and directs clients accordingly.
Market penetration is the proportion of a potential market who actually buy a product or service.
Market penetration is a key issue in assessing the growth prospects for an industry. It is usually fairly straightforward to assess the potential market for a product: the number of sales it could make if everyone who could reasonably buy it, did. What proportion of those people actually become paying customers of an industry is another matter.
Market penetration strategy can be implemented by offering sales, Increasing sales force, increase distribution and promotion of products, more expenditure in marketing and advertising activities will results in increasing sales. It is not guaranteed that market penetration fully works after investing in sales and marketing of products and services, a firm should go for this strategy only if any below of the desirable situation exists.
Market Penetration Strategies Of Maggi Noodles
Promotional campaigns in schools
Advertising Strategies
Power of 5
Availability in different pack sizes
New product innovations
Brand Recall and Future Trends
Introducing a fictitious character who can connect with kids for better brand recall
Organizing contests , games and industrial visits for school kids to further strengthen the brand image
Invite Housewives to send new innovative recipes made from Maggi and introduce rewards for the same
Foray into the Chinese food segment by introducing branded products for chowmeen, schezwan and hakka noodles