What is penetrative pricing in business

[cherry123]

Penetration pricing is all about the use of penetrative strategy by businesses to lure clients of customers to buy new product or service by giving a lower price to customer duriing the initial introduction of the product or service

The offer of this lower price is the helo the new product or service to penetrate the market and lure customers to look the way of the new products.

 

[Etini Willie]

This strategy has proven to be a very effective way of attracting customers. It is also called completive pricing. Every rational customer would always prefer the product with the lower price.

 

[Stardom22]

I think this is the right strategy for the introduction of the new products on the market by lowering the prices of the new products in the market. However the strategy works as most people would like to buy in cheaper prices.

 

[Heatman]

Penetration pricing is all about the use of penetrative strategy by businesses to lure clients of customers to buy new product or service by giving a lower price to customer duriing the initial introduction of the product or service

The offer of this lower price is the helo the new product or service to penetrate the market and lure customers to look the way of the new products.

All customers are always interested in getting their products sold at cheaper prices. I also look forward to that whenever I'm buying any products.

 

[Magnus2022]

Penetrative pricing is a strategy where a new product is sell cheaper than what it suppose to be. The essence is to introduce the product into market by using price difference. When the product have penetrated the market, the price will adjust accordingly.

 

[Elendu]

I will Offer special discounts and promotions to incentivize customers to purchase my product or service which could include limited-time sales, bulk discounts, or loyalty programs and regularly communicate with customers to build long-term relationships

 

[oldbuddy]

Then why is Elon Musk so rich after he introduced the Tesla at higher than market price?

 

[puroypoi]

Penetrative pricing is something that I heard for the first time, though it sounds like a an introductory offer price for things that are new in the market. It is a common practice to set the price into a lower price when you want to get and collect more customers for your products.

 

[Etini Willie]

Penetrative pricing is a good model for a business to use and attract customers. I have tried it before and I got good patronage in my buisness. I recommend it.

 

[cherry123]

Exactly, the strategy works as most people would like to buy in cheaper prices. it is for the introduction of the new products on the market by lowering the prices of the new products