________ pricing is the approach of setting a low initial price in order to attract a large number of buyers quickly and win a large market share.

A. Market-skimming

B. Value-based

C. Market-penetration

D. Leader

Answer: Option C

Solution(By Examveda Team)

Market-penetration pricing is the approach of setting a low initial price in order to attract a large number of buyers quickly and win a large market share. Market penetration pricing is a pricing strategy that sets a low initial price for a product. The goal is to quickly attract new customers based on the low cost. The strategy is most effective for increasing market share and sales volume while discouraging competition.