State which method of pricing is used when a new product is launched with a low price to capture as much market share as quickly as possible.
Question
Solution 1
The method of pricing used when a new product is launched with a low price to capture as much market share as quickly as possible is called "Penetration Pricing".
Here are the steps explaining this method:
- A new product is introduced in the market at a significantly lower price than its compet Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
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