Market Penetration
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Please help with the following multiple choice problem.
The Mountain Water Company has developed a line of bottle water products to be sold in grocery stores and conveniences stores. The company will introduce them into the US market over the next six months. The company realized that competition is very intense in the grocery industry and has decided to introduce the product at a low price to maximize their market share. The Mountain Water Company realizes that the consumers are very price sensitive when buying bottled water. The company is using _____ pricing strategy
a. Progressive
b. Skimming
c. Diversified
d. Market-Penetration
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Solution Summary
This posting helps with pricing strategy. Market penetration is highlighted in this solution. A multiple choice question is answered with an explanation.
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Hello!
The correct answer is D, "Market Penetration"
When using a market penetration pricing strategy, the idea is to offer very low prices to consumers in order to divert them from other firms to ...
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