The pricing strategy that involves setting prices lower than competitors to attract customers, even at the risk of losing profits, is referred to as market penetration pricing.
Tom owns a small hardware shop and is using a pricing strategy to lure customers away from competitors, sometimes even at the risk of losing profits. This strategy revolves around pricing products lower than those of competitors and is referred to as what?
(1 point)
Responses
premium pricing
premium pricing
price skimming
price skimming
economy pricing
economy pricing
market penetration pricing
1 answer