Definition of market penetration in US English:

market penetration

noun

  • The extent to which a product is recognized and bought by customers in a particular market.

    ‘the company continued to increase market penetration’
    • ‘The use of lead customers was the favourite overseas market penetration strategy for a number of respondents.’
    • ‘She said the number of new stores will depend on market penetration.’
    • ‘But as we analyzed our portfolio business, and compared our market share and market penetration in this group, we saw a great opportunity.’
    • ‘Ranked among the Fortune 100 companies, their performance and market penetration is increasing by the day.’
    • ‘The distinctiveness of its products and further broadening of product lines have led to rapid market penetration and expanded distribution.’
    • ‘Company officials say the acquisition will bolster its product line and strengthen its market penetration in the Midwest and Northeast.’
    • ‘The potential cost reduction might translate into broader market penetration or more diverse applications.’
    • ‘The majority of the station's listeners are over-45s, and it has a market penetration of 4 per cent.’
    • ‘Nobody else in Ireland or Britain has his level of market penetration.’
    • ‘The newest version of the company's technology has gained greater market penetration than any of its competitors.’