Joanne works in the marketing department for a toy manufacturer.Her company will be introducing a new type of toy and wants to obtain a dominant market share while discouraging competitors from offering similar toys.Which strategy would be best for achieving this goal?

Question

Quizplus · Accepted Answer

Penetration pricing is the best strategy for achieving the goal of obtaining a dominant market share while discouraging competitors from offering similar toys. This strategy involves setting a low price initially to attract customers and gain market share quickly. Competitors may struggle to match the low price, discouraging them from entering the market. Once a dominant market share is achieved, the price can be raised to maximize profits.

Joanne Works in the Marketing Department for a Toy Manufacturer