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Penetration Pricing
A pricing strategy where a product is introduced to the market at a low price to attract customers and gain market share quickly.
Price-sensitive
Referring to consumers whose buying behavior can be significantly influenced by price changes of products or services.
Penetration Pricing
A pricing strategy where a product is introduced to the market at a low price to attract customers away from competitors, with the aim of quickly gaining market share.
Skimming Pricing
A pricing strategy where a high price is set for a new product to skim maximum revenues layer by layer from the segments willing to pay the high price.
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