market-saturation

Vocabulary Word

Definition

'Market saturation' is when a product becomes so common in a market that new players find it tough to get in. It's like trying to squeeze into a fully packed elevator—there's simply not enough room for everyone.

Examples in Different Contexts

In sustainability initiatives, market saturation can drive change. An environmental consultant might argue, 'The saturation of eco-friendly products in the market is encouraging sustainable practices.'

Practice Scenarios

Tech

Scenario:

The market for this tech product is densely packed. It might be important to consider what unique value we can bring.

Response:

You're right, even though the tech market is saturated, our focus on user privacy could be a game-changer.

Marketing

Scenario:

With this level of competition, targeting a wider audience might not yield significant results. Should we consider niche marketing?

Response:

Agreed. Given the market saturation, targeting a niche audience could indeed yield more effective results.