What is the best definition of a penetrating price strategy?
A) Sets prices low to take advantage of customers being sensitive to prices
B) Sets prices low to take advantage of customers being insensitive to prices
C) Sets prices high to take advantage of inelastic prices
D) Sets prices high to take advantage of brand loyalty

Question

Quizplus · Accepted Answer

A penetrating price strategy involves setting prices low to attract customers who are sensitive to prices, aiming to quickly gain market share.

What Is the Best Definition of a Penetrating Price Strategy