market share for present products or services in present market through greater marketing efforts. This can be done by increasing sales persons, increase advertising expenditure, sales promotions items and increase and publicity efforts Penetration strategy
Objective: Increase sales volume,
share of market in existing markets with existing products Invest: Advertising, promotion, sales force, capacity. Scope: Scale may increase, but scope does not change 3 Guidelines
Current markets not saturated
Usage rate of present customers can be increased significantly Market shares of competitors declining while total industry sales increasing Increased economies of scale provide major competitive advantages Market Development Strategy Selling the same product to different market Entering new markets, segments with existing products Gaining new customers, new segments, new markets Requires changes in marketing strategy, distribution, pricing policy, promotional strategy MARKET-DEVELOPMENT STRATEGY Internationally, this strategy has four forms:
Exporting Licensing
Joint Venture/ Direct Strategic Investment Alliance