The first Canadian Tire store opened in 1922. Since the early 21st century, its strategy has been updated to capture a larger market share by offering lower everyday prices to attract a large number of buyers and win a large market share. This is referred to as .
A) market-skimming pricing
B) target costing
C) value-added pricing
D) market-penetration pricing
E) deceptive pricing

Question

Quizplus · Accepted Answer

Market-penetration pricing is a strategy where a company sets a low price to attract a large number of buyers and gain a significant market share.

The First Canadian Tire Store Opened in 1922