Which of the following represents a pricing strategy that establishes a low price in hopes of attracting a great number of customers and attempts to discourage competitors?

Question

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The penetration pricing strategy establishes a low price in hopes of attracting a large number of customers and attempts to discourage competitors from entering the market. This is done by offering a price lower than what competitors are offering, making it difficult for them to match the price without sacrificing profits.

Which of the Following Represents a Pricing Strategy That Establishes