What are the Benefits of Market Penetration for Business?

[Suba]

Market penetration is a way to measure how many of your products are purchased by consumers compared to the number of customers/consumers in a market. For example, if you as a businessman estimate that in a market AA, there are 100k consumers who will buy the products you offer, but your business is only able to sell 25k products, then we can calculate the market penetration of your product is 25%.

So in your opinion, what are the benefits of market penetration for business?

 

[Kross]

Market penetration allows for a business to create new customers by deepening its reach in the market.

 

[King Belieal]

Market penetration allows the business to expand, make more profits and stimulates business growth. But market penetration requires strategy.

 

[Augusta]

The benefits of a market penetration strategy is ri
capture a larger share of the existing market, you can achieve higher sales volumes, which directly boosts revenue.Increased production and sales volumes to bring economies of scale.