Question

Leupold & Stevens, Inc., makes Leupold scopes for rifles and has introduced a new scope that has the quality and performance for which Leupold & Stevens is famous at a price much lower than it has ever sold a rifle scope before. The new scope offers several different magnifications and is the only scope in the $200 range that is made in the United States. (All similar scopes are priced much higher.) Which pricing strategy is Leupold & Stevens using to appeal to a larger market?a.price skimmingb.status quo pricingc.penetration pricingd.unbundlinge.cost sharing

Answer 1

Leupold & Stevens, Inc. is using a penetration pricing strategy to appeal to a larger market by offering a new scope with high quality and performance at a lower price than before.

Step-by-step explanation:

Leupold & Stevens, Inc. is using a penetration pricing strategy to appeal to a larger market. Penetration pricing is when a company sets a low price for a new product in order to quickly gain market share. In this case, Leupold & Stevens has introduced a new scope with high quality and performance at a much lower price than their previous scopes.

This pricing strategy allows them to attract a larger customer base by offering a more affordable option. By being the only scope in the $200 range that is made in the United States, they also differentiate themselves from competitors who price their similar scopes much higher.

Answer 2

Penetration pricing

Step-by-step explanation:

Is a marketing strategy used by businesses to attract customers to a new service or product. By offering lower price during its initial offering, thats the way they do. The lower price, helps a new producto or service penetrate the market and attract customers .