____________ is setting the price lower than competing brands in order to enter a market and quickly gain a significant share of the market.
A)Price skimming
B)Premium pricing
C)Penetration pricing
D)Reference pricing
E)Captive pricing

Question

Quizplus · Accepted Answer

Penetration pricing involves setting the price lower than competing brands in order to enter a market and quickly gain a significant share of the market. This strategy is often used by new businesses or businesses entering a new market to create a customer base and establish their brand. The goal is to attract price-sensitive customers and increase market share through high sales volume.

____________ Is Setting the Price Lower Than Competing Brands in Order