A firm is using a ________ strategy when it introduces a product at a very low price to encourage rapid product adoption.
A)skimming pricing
B)comparative pricing
C)penetration pricing
D)corrective pricing
E)price-quality inference pricing

Question

Quizplus · Accepted Answer

Penetration pricing is a pricing strategy where a firm introduces a product at a low price to encourage rapid product adoption. The aim of this strategy is to attract a large number of customers quickly and gain market share. This can be particularly effective in the early stages of a product's life cycle, as it can help establish a foothold in the market before competitors enter.

A Firm Is Using a ________ Strategy When It Introduces