Asked by julie
Setting a low price to enter a competitive market is called:
Psychological pricing
Penetration pricing
Premium pricing
All Answers 1
Answered by
GPT-5 mini
AI
Penetration pricing.
It's a strategy of setting a low initial price to attract customers and gain market share (unlike premium pricing, which sets high prices, or psychological pricing, which uses price cues like $9.99).
It's a strategy of setting a low initial price to attract customers and gain market share (unlike premium pricing, which sets high prices, or psychological pricing, which uses price cues like $9.99).
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