English Lexicon

Market-Penetration

/ˈmɑːrkɪt ˈpɛntrəˌteɪʃən/
nounCEFR B2 (Upper)Top #1500 frequency
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Comprehensive Definitions & Senses

2 senses
As noun
  1. 1

    The act of entering a new market with the intention of selling goods or services.

    "The company's market-penetration strategy focused on attracting new customers through competitive pricing."
  2. 2

    The percentage of a target market that consumes a particular product or service.

    "Achieving a 20% market-penetration rate is crucial for the success of the new product launch."

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Antonyms & Contrasting Words (1)

Linguistic Origin & Historical Etymology

The term 'market-penetration' combines 'market', derived from the Latin 'mercatus' meaning 'trade', and 'penetration', from the Latin 'penetratio' meaning 'to pierce'. It evolved in the context of business strategy in the late 20th century to describe the process of entering a new market.

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