If you have a new consumer product which strategy will you choose to penetrate the market?

A tangible strategy depends not only whether  the product is new or not but whether it is a basic or premium product. If th product is basic, penetration strategy supported by cost leadership will be enough to make customers switch hence new product competitiveness and growth which is suitable for organisation with market leadership status otherwise cost focus will be viable. For a premium, product differentiation supported by differentiation strategy will be viable for large organisations whilst differentiation focus for small ones.

In conclusion, a successful new product strategy lies on the product type and organisational core competence for growth and sustainable competitive advantage.