Question

What action should undertake to ensure market penetration strategy successful implemented

Answer 1

Market penetration is a strategy that helps companies take some vital steps to reach their customers effectively and efficiently. The company increases or decreases its products' price according to the situation to get the market monopoly under them. If the company is going ahead of its competitors in the market, the company will be going in the correct direction, and they can quickly achieve its organizational objectives.

Moreover, the company can modify its products to provide satisfaction to the customers as customers are their key prioritize, which should not suffer any complaint regarding the company's product. Market penetration also includes the addition of any new product in the market. It will help the company grab the attention of its customers, which will use their new product and help the company increase its sales effectiveness, and there will be the fulfillment of the company's short and long-term objectives.