17
Jan
Penetration pricing strategy is a strategy that takes advantage of the low price of a product or service to grow market share and to encourage consumers to try a new product. In this case, the company sets a lower retail price than its competitors for a product with similar features. One advantage is that you can gain more customers quickly because they are attracted by an attractive offer. On the other hand, market penetration may encourage existing competitors to decrease their prices in order not to lose potential customers. However, it is important to note that penetration pricing does not…