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market penetration
/ˈmɑːrkɪt pɛnɪˈtreɪʃən/
extent of product adoption in a market
The company achieved 20% market penetration in its first year.
The company's product was adopted by 20% of the target market in its first year.
formal
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.
Collocations
increase market penetrationto expand the product's adoptionlow market penetrationlimited adoption of a productmarket penetration strategya plan to increase product adoption
Related Phrases
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.
Word Breakdown
market
the group of potential customers for a product
rootpenetration
the act of entering or spreading into
rootEnglish Dictionary