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What Pricing strategies would you adopt to gain market share?

What Pricing strategies would you adopt to gain market share?

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Answer #1

The correct answer is Penetration pricing

The Price is one of the major competitive things that a firm needs to manage to gain the market share, The company should adopt the penetration pricing strategies which means setting low cost of the products with similar products available in the market which will help to gain the belief and the market share for the products of the company, In this strategy the company ramps up the production which brings the economies of scale and this leads to better marketing, product differentiation and distribution channels.

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