Penetration pricing is often used in a market in which a new product is likely to face strong competition when introduced.

Name: Penetration pricing is often used in a market in which a new product is likely to face strong competition when introduced.
Brand: Quizplus
Rating: 4.8 (28 reviews)

Question

Quizplus · Accepted Answer

Penetration pricing is a strategy where a new product is priced lower than its competitors to attract customers and gain market share quickly in a competitive environment.

Penetration Pricing Is Often Used in a Market in Which