When Hallmark cards introduced a line of $.99 cards (about half the price of the previously least expensive cards sold by Hallmark),the greeting card company was trying to appeal to a mass market that was price sensitive.Hallmark was using a _____ pricing strategy.
A)prestige
B)skimming
C)penetration
D)demand-backward

Question

Quizplus · Accepted Answer

Hallmark was using a penetration pricing strategy by lowering the price of their cards to appeal to a mass market that was price sensitive. This strategy aims to quickly gain market share by attracting customers with lower prices compared to competitors.

When Hallmark Cards Introduced a Line of