________ pricing is the approach of setting a low initial price in order to attract a large number of buyers quickly and win a large market share.
A)Market-skimming
B)Market-penetration
C)Below-market
D)Value-based
E)Leader

Question

Quizplus · Accepted Answer

The approach of setting a low initial price in order to attract a large number of buyers quickly and win a large market share is known as market-penetration pricing. This is often used when a company is entering a new market or introducing a new product, and wants to quickly establish itself and gain a foothold in the market. This strategy can help to generate buzz and excitement around the product, and can also help to discourage potential competitors from entering the market.

________ Pricing Is the Approach of Setting a Low Initial