When a product has long life cycle , it has mass market, entry of rivals in to market is easy and demand is elastic. Which pricing policy can be adopted?

Question

Quizplus · Accepted Answer

Penetration pricing is suitable for products with a long life cycle, mass market appeal, and elastic demand. This strategy involves setting a low price to enter the market quickly and attract a large number of customers, thereby discouraging or delaying the entry of competitors.

When a Product Has Long Life Cycle , It Has