Notes

Optimization of Cross-border E-commerce Marketing Strategy During the Pandemic SpringerLink
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Similar content being viewed by others Reach out to different territories
The market penetration rate is especially important because it allows companies to compare where they are currently, where they have been, where they want to be, and how their competitors are performing. The market penetration rate allows a company to set a SMART goal that can be calculated and tracked over time. One should introduce these strategies taking inspiration from the above market penetration examples. One of the best parts about implementing a market penetration strategy is to combat your competitors.
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Of these 32,660 stores, 18,354 were in the United States, Canada, and Latin America. Businesses can leverage emerging trends like hyper-personalized and advanced pricing technology by investing in data analytics, AI, and machine learning capabilities. At WebFX, we’ve built a series of SEO service packages that stand apart from other agencies. Analyze how your business objectives and priorities have changed to identify the best approach going forward.
Russian shoppers are known to be brand loyal, so retailers who prove to be trustworthy and good value will attract and retain the Russian consumer. Partner or merge with another business in a mutually beneficial way (e.g. run a co-marketing campaign). Resolve the challenges of your customers and buyer personas more effectively by updating or changing a product or feature. A successful leggings brand, Booty by Brabants, has made waves in recent years in the athletic-wear industry. The brand has established itself as a seller of high-quality and unique leggings for women of all sizes.
Reach out to different territories
However, during the COVID-19 pandemic, many companies encountered bottlenecks, mainly because products could not adapt to the rapid changes in consumption and products were out of stock due to weak logistics system. Based on this, we propose a strategic optimization plan, including product optimization, sales channel optimization, brand optimization and logistics optimization. The degree of market penetration can be an indicator of the brand’s popularity, business growth, and the level of risk involved. It’s crucial for evaluating the success of products and services in the market and is also a critical factor in developing effective marketing strategies and plans. The digital era has opened up a myriad of online marketing solutions for global expansion. From SEO for diverse target audiences to social media campaigns, explore the full spectrum of digital marketing to reach a worldwide audience.
What is Market Penetration Strategy? Guide & Examples

Despite the dominance of these major brands, smaller companies still have opportunities to capture a larger portion of the market through effective strategies around product development, pricing, and marketing. Making your products or services easier to access is a great way to attract more customers in your current market. One effective way to expand your customer base within your current market is by adjusting your pricing strategies to align with customer preferences and purchasing behaviors. Providing a Rewards or Promotional Program refers to offering incentives like discounts, points, or special offers to customers to encourage loyalty, repeat business, and attract new customers.
Tools like Affise BI help you manage all that unstructured data across different marketing channels intuitively. You don’t need any technical expertise to benefit from Affise BI and start making better, evidence-based business decisions every day. The more accurately you can assess your number of customers and market size (TAM) the more accurate your Market Penetration Rate calculation will be. In cases like these it’s often best to hone in on your most relevant target market and take it from there. It was also the case for Apple when iPhones amounted to a 15% to 20% market penetration rate. That’s when Apple sold more than 77 million iPhones, ending 2018 with a 19.2% share, according to Omnia Retail.
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