If a firm's goal is to place a new product into the hands of as many consumers as possible quickly,then its best pricing strategy would be ________.
A) penetration pricing
B) psychological pricing
C) price lining
D) price skimming

Question

Quizplus · Accepted Answer

Penetration pricing is the pricing strategy that involves setting a low price for a new product initially in order to attract a large number of customers quickly. This helps to increase market share and establish the product in the market. Therefore, if a firm's goal is to place a new product into the hands of as many consumers as possible quickly, penetration pricing would be the best pricing strategy.

If a Firm's Goal Is to Place a New Product