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In simpler terms, it seeks to increase its market share in the existing market landscape. It involves attracting new customers, retaining existing ones, or acquiring competitors to capture more of the existing market. To achieve increased sales for its current products, the company adopts more assertive promotion and distribution strategies. [3]
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Market penetration refers to ways or strategies that are proposed or adopted so as to be able to create a niche in the already existing market. Although it can be performed throughout the business's life, it can be especially helpful in the primary stages of setup.
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Hello, with that spelling, was used in publications in the U.S. as early as the 18 October 1826 edition of the Norwich Courier of Norwich, Connecticut. [1] Another early use was an 1833 American book called The Sketches and Eccentricities of Col. David Crockett, of West Tennessee, [2] which was reprinted that same year in The London Literary Gazette. [3]
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