Explain price penetration
Explain price penetration
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Newton D
Penetration pricing is a pricing strategy where the price of a product is initially set low to rapidly reach a wide fraction of the market and initiate word of mouth. The strategy works on the expectation that customers will switch to the new brand because of the lower price.
manish1008
Penetration pricing is a marketing strategy used by businesses to attract customers to a new product or service by offering a lower price during its initial offering. … Market penetration pricing relies on the strategy of using low prices initially to make a wide number of customers aware of a new product.