market penetration
/ˈmɑːrkɪt pɛnɪˈtreɪʃən/The percentage of a target market that uses a particular product or service
Market penetration is a key metric for evaluating product success.
The percentage of the target market using the product indicates its success.
High market penetration often leads to economies of scale.
When many customers adopt a product, production costs decrease.
Market penetration is often expressed as a percentage of the total potential market.
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💡Pro Tip
Market Penetration vs. Market Share
Market penetration measures the percentage of a specific market using a product, while market share compares a company's sales to total industry sales.
⚡Gold Rule
Key Metric
Market penetration is a critical indicator of a product's success in a given market.
📖Word Origin
Combination of 'market' (a place for buying/selling) and 'penetration' (the act of entering or spreading into).
📝Usage Notes
Market penetration is a key metric in business and marketing, often used to assess competitive positioning.