How can I implement penetration pricing for my product?

How can I implement penetration pricing for my product?

Penetration pricing involves setting a low initial price to attract customers. What type of product are you considering?

I'm launching a new streaming service. How low should I set the price?

You might start with a price significantly lower than competitors, perhaps 20-30% less, to entice users. Have you analyzed your competitors' pricing?

Yes, I've looked at a few. What should I consider after the initial launch?

After the launch, monitor customer feedback and market response. Gradually increase the price while adding value to retain customers.

That makes sense! How long should I keep the low price?

Typically, you might maintain the low price for 6-12 months, depending on market conditions and customer acquisition goals.