Augusta
VIP Contributor
The Penetration pricing is one successful strategy that is always adopted by businesses to lure clients and customers to their new product or service.
They lure people by offering a lower price during the initial offering of the product. This is to first penetrate the mind of the customers to try out the products
The first essence is to use the lower price for the new product or service to penetrate the market and capture the existing customers for a similar products to compete favourable with the competitors.
The second essence is to introduce customers to a new product to create a market share with the hope of having loyal customers.
They lure people by offering a lower price during the initial offering of the product. This is to first penetrate the mind of the customers to try out the products
The first essence is to use the lower price for the new product or service to penetrate the market and capture the existing customers for a similar products to compete favourable with the competitors.
The second essence is to introduce customers to a new product to create a market share with the hope of having loyal customers.
