Companies which set a low price for a new product in order to attract a large number of buyers and a large market share are using the ________ strategy.
A) market-skimming pricing
B) market-penetration pricing
C) cost-plus pricing
D) inclusive pricing
E) exclusive pricing

Question

Quizplus · Accepted Answer

Market-penetration pricing involves setting a low price to encourage a large number of buyers and gain a significant market share. This strategy is often used for new products, as it helps to quickly establish the product in the market and attract early adopters.

Companies Which Set a Low Price for a New Product