Which of the following pricing strategies is best suited for a digital video disc player that has elastic demand and a lot of competition?
A) competitive-based pricing
B) penetration pricing
C) introductory price discounting
D) price skimming
E) status quo pricing

Question

Quizplus · Accepted Answer

Penetration pricing is effective for products with elastic demand and high competition, as it involves setting a low initial price to attract customers and gain market share quickly.

Which of the Following Pricing Strategies Is Best Suited for a Digital