If a company wants quick acceptance and extensive distribution when introducing a new product into a highly competitive market with a large number of similar products, a market penetration pricing is the best strategy.

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Market penetration pricing is a pricing strategy where a company initially sets a low price for its product in order to quickly gain market share and penetrate the market. This is particularly effective in highly competitive markets with a large number of similar products as it can help the company differentiate itself and attract customers who may be looking for a cheaper option.

If a Company Wants Quick Acceptance and Extensive Distribution When