Which pricing strategy is characterized by the setting of a low introductory price to help drive consumer awareness and create a

Question

3 years ago

9

Which pricing strategy is characterized by the setting of a low introductory price to help drive consumer awareness and create a

n incentive for the consumer to buy now? Price skimming strategy Experience curve strategy Market penetration strategy Everyday low pricing strategy

Business

1 answer:

Bas_tet [7] · Answer 1 · 2021-11-26T10:03:40+03:00

Answer:

The correct option market penetration strategy

Explanation:

Price skimming is when price is set high in order to appeal a group of consumers that the product of high premium quality filled with first of its kind innovation.

Market penetration is the opposite of price skimming in that the prices are set very low in order attract consumers,create an awareness for the new product,thereby encouraging consumers to purchase the new products.

In other words, the pricing strategy highlighted in the question is the latter not the former.