Marketing MCQ Marketing Chapter 21 When a firm introduces a new product at a relatively low price because it hopes to reach the mass market, it is following a ___ strategy. The low price is designed to capture a large share of a substantial market and produce lower production costs.

When a firm introduces a new product at a relatively low price because it hopes to reach the mass market, it is following a ___ strategy. The low price is designed to capture a large share of a substantial market and produce lower production costs.

Marketing Chapter 21

When a firm introduces a new product at a relatively low price because it hopes to reach the mass market, it is following a ___ strategy. The low price is designed to capture a large share of a substantial market and produce lower production costs.

a. penetration pricing
b. price-insensitive demand
c. price skimming
d. price elasticity
e. cost bundling

ANSWER: a

Marketing MCQ

When a firm introduces a new product at a relatively low price because it hopes to reach the mass market, it is following a ___ strategy. The low price is designed to capture a large share of a substantial market and produce lower production costs.

When a firm introduces a new product at a relatively low price because it hopes to reach the mass market, it is following a ___ strategy. The low price is designed to capture a large share of a substantial market and produce lower production costs.

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