When a company sets a low price for a new product to discourage competition from entering the market,it is using the _____ strategy.
A)even/odd pricing
B)price skimming
C)psychological pricing
D)penetration pricing
E)symbolic pricing

Question

Quizplus · Accepted Answer

Penetration pricing is a strategy where a company sets a low price for a new product to attract customers and discourage competition from entering the market. This approach helps in quickly increasing market share.

When a Company Sets a Low Price for a New