He blogs at dougpepper. Everyone expects startups, even successful ones, to undergo a cycle of hype, disappointment and ultimately growth on the way to a sustainable business. But what about new technology markets themselves? Does the growth of a new market follow a similar pattern? The chart below shows the basic pattern.
The Market Curve: The Life Cycle Of New Technology Markets
What is MARKET PENETRATION? definition of MARKET PENETRATION (Black's Law Dictionary)
Typically, market penetration strategy comes in the picture when you are marketing and selling products in a saturated and highly competitive market. Market penetration strategy is needed when you are looking at the product market expansion grid. Thus, the current market might already be saturated, or it may have high competition or your current product has low turnaround time. In such case, what can be your strategy to increase market penetration? Here are 6 tactics to increase market penetration.
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The market for GPS tracking devices is mature enough. GPS tracking devices are no longer luxurious commodities because of its relatively affordable prices. Leading companies and government agencies, as well as start-up companies, can afford these devices.