Business growth doesn’t only come from chasing new markets. Sometimes, the real wins are closer than you think—right where you already compete.
Tackle the topic of market penetration in this episode of Opportunity Minded. You’ll gain practical recommendations for your strategy, so you can start to evaluate your performance and explore ways to increase your market share.
- The 4 Ps of marketing and how this framework helps you defend or grow your market position
- Case study of a CPG company that wanted to expand their market share
- What roadblocks could be holding you back from gaining traction
- How to retain your spot as a market leader
Play a quick game with us where you guess how much market share the top brands capture across different categories and countries.
Chapters:
00:00:00 - Introduction and welcome
00:00:24 - Guest introduction: Jonny York
00:00:35 - Increasing personal market share
00:01:22 - Market penetration vs. market entry
00:02:28 - Key questions for business leaders
00:03:09 - Importance of granular data
00:04:04 - Market fragmentation
00:05:25 - The 4 Ps framework
00:06:46 - Case study: Increasing market share in air fresheners
00:07:13 - Product evolution and consumer behaviour
00:10:21 - Pricing strategy and brand equity
00:13:09 - Promotion and marketing channels
00:15:09 – Place as distribution channels and strategy
00:17:06 - Common misconceptions and pitfalls
00:18:58 - Challenges during systemic shocks
00:20:01 - Navigating multiple data sets
00:21:16 - Maintaining market leadership
00:23:17 - Continuous monitoring and market entry cycles
00:24:32 – Game time: More or less
00:31:04 - Final advice on market penetration
00:32:05 - Closing remarks and contact information
Euromonitor's price tracking tool can be your competitive edge in a shifting market. Follow daily pricing trends across thousands of retailers worldwide and identify risks and opportunities with SKU-level accuracy. Try for free today.
Opportunity Minded is brought to you by Euromonitor International—the first destination for organisations seeking growth.
Visit our website for more resources and stay connected with us on social media.
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