Which of the following represents a pricing strategy that establishes a low price in hopes of attracting a great number of customers and discouraging competitors?
A) penetration strategy
B) odd-even pricing strategy
C) skimming strategy
D) price lining strategy

Question

Quizplus · Accepted Answer

A penetration pricing strategy involves setting a low price for a product or service with the aim of attracting a large number of customers and discouraging competitors from entering the market. This pricing strategy is commonly used when introducing new products or services to the market. It can help build brand awareness and secure a larger market share in the long run.

Which of the Following Represents a Pricing Strategy That Establishes