With a __________ pricing strategy,marketers set a low initial price for the introduction of a new product or service.
A) market penetration
B) bundling
C) price fixing
D) reference
E) skimming

Question

Quizplus · Accepted Answer

Market penetration pricing strategy is used to set a low initial price for a new product or service to attract a large number of buyers quickly and effectively penetrate the market. This strategy is suitable for businesses that want to gain a competitive advantage over their rivals or for businesses that intend to capture a large market share quickly.

With a __________ Pricing Strategy,marketers Set a Low Initial Price