What is penetration pricing?
An example of an AI chatbot conversation about penetration pricing strategies.
Can you explain what penetration pricing is?
Sure! Penetration pricing is a strategy where a product is introduced at a low price to attract customers and gain market share.
What are the benefits of using penetration pricing?
The main benefits include quickly attracting a large customer base, discouraging competitors, and establishing brand loyalty.
Are there any risks associated with penetration pricing?
Yes, risks include potential losses if the price is too low, and it may also lead to price wars with competitors.
Can you give me an example of a company that used penetration pricing?
Certainly! Netflix initially used penetration pricing by offering low subscription rates to attract users before raising prices later.
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