Question

What is a pricing strategy that establishes a low price in hopes of attracting a great number of customers and discouraging competitors?.

Answer 1

The pricing strategy that establishes a low price in hopes of attracting a great number of customers and discouraging competitors is penetration pricing.

What is penetration pricing?

Penetration pricing is a pricing strategy where the sellers of a new product make the price of the good very low with the hopes that it would attract customers to purchase the product.

Penetration pricing increases the market share of the firm but can lead to the firm earning very low levels of profit.

To learn more about penetration pricing, please check: brainly.com/question/3521758