What is Market access? what are the four key objectives seek to realize on Market permeation?
Answers: Market Penetration: Market penetration is the moniker given to a growth strategy where the business focuses on selling existing products into existing market.
Market penetration seek to achieve four major objectives:
O> Maintain or increase the market share of current products – this can be achieve by a combination of competitive pricing strategies, advertising, sale promotion and perhaps more resources unswerving to personal selling
O> Secure dominance of growth markets
O> Restructure a evolve market by driving out competitors; this would require a much more aggressive promotional solicit votes, supported by a pricing strategy designed to make the flea market unattractive for competitors
O> Increase usage by existing customers – for example by introducing loyalty scheme A market permeation marketing strategy is very much just about “business as usual”. The business is focusing on markets and products it know well. It is credible to have apt information on competitors and on customer needs. It is unlikely, and so, that this strategy will require much investment in up to date market research.