A firm is using a(n)________ strategy when it introduces a product at a very low price to gain market share early on.

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Penetration pricing is a pricing strategy in which a company sets a low initial price for a product or service in order to attract customers and gain market share. The aim is to increase sales and market share by attracting customers with a low-priced product or service, and then to gradually increase the price over time as the product gains acceptance and popularity.

A Firm Is Using A(n)________ Strategy When It Introduces a Product