![]() ![]() Many companies have successfully used penetration pricing to gain market share and establish themselves as viable competitors. Once the company has established a customer base, it can gradually increase its prices to closely match those of its competitors. The aim of this strategy is to attract a large number of customers quickly, which can help the company gain a foothold in the market and build brand awareness. Penetration pricing involves setting a low price for a product or service, which is typically lower than the market average. By offering a lower price than competitors, the company aims to attract a large number of customers and establish a foothold in the market. ![]() Penetration pricing is a strategy where a company sets a low price for its product or service to gain market share quickly. The strategy is based on the idea that a low price will entice customers to try a new product, which in turn will create buzz and generate positive reviews. Penetration Pricing is a pricing strategy in which the price of a product is set low to reach a wider market and initiate promotion. Penetration pricing is often used by businesses new to a market or launching a new product line that finds themselves in need of building brand awareness and gaining customer loyalty. The goal of penetration pricing is to attract a large number of customers quickly and establish the company as a viable competitor in the market. ![]() Penetration pricing refers to a pricing strategy in which a business sets a low price for the products to gain market share. ![]()
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