Penetration price strategy
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BREAKING DOWN 'Penetration Pricing'
Penetration pricing is a marketing strategy implemented to draw customers to a new product or service.
Description:It creates goodwill for the company if customers perceive that they are purchasing a high-quality product at a fair price. A related penetration strategy popular among smart phone providers also uses penetration pricing. Other utility providers also rely on penetration pricing. It can be based on marginal cost pricing , which is economically efficient. Handlin graduated from Harvard and holds advanced degrees in marketing from Columbia and New York University.