Penetration pricing refers to
A. charging different prices to different buyers for goods of like grade and quality.
B. setting a low initial price on a new product to appeal immediately to the mass market.
C. setting prices a few dollars or cents under an even number.
D. setting the highest initial price that customers really desiring the product are willing to pay.
E. setting a market price for a product or product class based on a subjective feel for the competitors' prices or market price.
Answer: B