When a marketer of a new product uses a low price with a view to attracting as many buyers as possible this is known as:
A) price penetration.
B) demand based pricing.
C) price maximising.
D) sales maximisation approach to pricing.
E) price skimming.

Question

Quizplus · Accepted Answer

The scenario described is known as price penetration, where a low price is used to penetrate the market and attract a large number of buyers. This is often used for new products as a way to quickly gain market share and establish a foothold in the industry.

When a Marketer of a New Product Uses a Low