Market Penetration Strategy:

1) Pricing Strategy- Your product price should be according to the similar product
available in the market. I mean to say that it should be cost effective.
2) Brand promotion- It is the awareness tool for reaching your product to
customer. It should be well panned and well campaign should be companied to
niche market.
3) Distribution Channel- Proper retail outlet distribution channel.
4) Product quality: The product should be good quality. It must meet the customer
satisfaction.
5) Knowing Risk and Growth- When a new product is being launched, there exists
the risk of it being successful or not. But, an efficient distribution channel along with a
smooth delivery process makes it sure that the product does meet the expectations
6) Be unique and think differently- It would be better to think different and
modify your penetration tactics as and when required. By being more innovative and
adding value to your products you enhance your success chances.
7) Strategic Alliances- For some organizations, it is difficult due to one or more
reasons to enter new markets. To solve such an issue, many of these organizations enter
into a kind of strategic alliances with one another to operate in a particular market.
8) Diversification-
The product penetration tactic of diversification entails manufacturing new products
for new markets. The strategy of diversification is usually followed whenever, there is
saturation in the current market or when environmental changes such as
societal, economic, technological or regulatory make it very hard to generate new sales
in those markets.