Which strategy involves pricing products or services at a lower than normal,long-range market price in order to gain more rapid market acceptance or to increase existing market share?

Question

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Penetration pricing involves setting a lower price than the established or long-range market price in order to gain more rapid market acceptance and increase market share. This strategy is typically used by businesses entering a new market or launching a new product. It can help attract price-sensitive consumers and encourage them to switch from competitors, thus increasing market share.

Which Strategy Involves Pricing Products or Services at a Lower