Question

A company has set a low price on a new product it introduced. It wants to maximize its market share and attract a large number of buyers quickly. Which new product pricing strategy should the company​ use?

Answer 1

Market penetration pricing

Step-by-step explanation:

When a product is offered new in the market, along with low price, so that more customers are willing to try this, it aims at effectively attracting customers and then acquiring a significant market share in a small interval of time.

In the case provided, the company wants to get a significant share in the market for its new product and accordingly the company plans to set a low price.

This technique provides for all the features the company desires.