Another strategy you can use for market penetration is to improve the quality or features of your product or service, providing added value to consumers.
Innovate your product, such as adding new features, improving design, or reducing production costs.
Ensure that the product or service enhancements meet the needs and desires of consumers without diminishing the core value.
Conduct market research, trials, and evaluations before launching the enhanced product or service.
An example of a company using product enhancement strategies is Samsung, the world’s largest electronics company.
Samsung continually innovates its products, especially in its smartphone line, such as the Galaxy S and Galaxy Note.
They consistently add new and advanced features, such as cameras, screens, batteries, or processors, to provide the best experience for consumers.