market-penetration
/ˈmɑː.kɪt ˌpɛn.ɪˈtreɪ.ʃən/ IELTSAcademic
noun
The amount of a market that a product, company, or service has reached. It shows how much of the possible audience is already using it or buying it.
- The brand has strong market penetration in India.
- We need better market penetration in small cities.
- Their app gained fast market penetration last year.
Adinary Nuance
Market penetration is about how deeply a product has entered a market. It is different from market share, which is the percentage of sales you have compared with rivals. It is also different from reach, which can mean how many people saw an ad, not how many bought the product.
In other languages
- Vietnamese
- thâm nhập thị trường
- Spanish
- penetración de mercado
- Chinese
- 市场渗透
- Japanese
- 市場浸透
- Korean
- 시장 침투
Etymology
This business term combines market and penetration. It became common in modern marketing and economics, especially in the 20th century.
Common phrases
increase market penetrationstrong market penetrationmarket penetration strategymarket penetration rate
Synonyms
Related words
Frequently asked questions
- Is market penetration the same as market share?
- Not exactly. Market penetration means how widely a product has entered a market. Market share means your share of sales compared with competitors.
- Is market penetration a business term?
- Yes. It is common in business, marketing, and economics writing.
- How do I use market penetration in a sentence?
- You can say, 'The company wants to increase market penetration in Asia.'