Penetration Pricing Assignment Help

Penetration Pricing Assignment Help
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Penetration Pricing is a pricing method adopted by the manufacturers in which the goods and services are sold initially at a lower price than the market price. This technique is applied to attract more and more customers. This methodology is applied with the expectation that more customers shall adopt the new brand because of the low price offered. The objective of penetration pricing is to increase the market share rather than making a profit. Once the product acquires the expected market share, the price is enhanced. When a manufacturer expects the demand for the product to be high and there is a high probability of copying the product by its competitors, penetration pricing is implemented. It is a marketing strategy where increased sales volume and market share can be achieved, however, competition is discouraged. Penetration Pricing is a significant topic for the students pursuing Marketing Management. The professional marketing assignment writing experts at BookMyEssay can provide all kinds of academic writing service including Penetration Pricing assignment help to the marketing students.

Penetration Pricing is a marketing weapon used by the manufacturers to gain a huge market share. The price is initially set low than its competitors. Once the goods accomplish recognition in the market through more purchase by customers, the marketers increase the prices equal to the competitors’ prices. This pricing strategy is known as market-minus pricing because a lower market price is implemented on the premise that a new brand will move towards brand preference stage.  These firms intend to enhance the future prices of the products and it all depends on success on the trial purchases. Firms who adopt this marketing strategy usually have lower profits initially than its competitors. However, due to increased market share, there may be substantial benefits in the long run. BookMyEssay provides the best Penetration Pricing assignment writing help for the college and the university students. Our assignment writing help service is favored by the students highly. The professional expert writers of our team have assisted the students to score high academic grades.

Penetration Pricing

In this pricing method, the manufacturers desire to gain a market share quickly. Here the price is set low, which would result in sales and eventually lead to large market share. The focus is not on the profit but on the market share. Before adopting this pricing policy, it is important to study the market carefully. This is because when a firm lowers the price of its products, its competitor shall also reduce its price to get back its market share. In such situations, it must be observed that for how long, both the firms shall keep its price low. There are chances of failure on these occasions, therefore, an extensive market study is recommended.

When a manufacturer lowers its products or services price by adopting penetration pricing, he actually disallows the competitors to enter the market. This is because the competitors need to lower the prices than the prevailing prices for entering the market. There is a reduction in profit as well as they are at risk from the new entrants from obtaining the market share.

Advantages of Penetration Pricing

Many advantages are offered by penetration pricing as follows:

  • Adoption, as well as diffusion rates for the products, get increased once this pricing technique is applied. Diffusion is the acceptance of any new product by the consumers and adoption focuses on the psychological approval.
  • The competition usually remains aware of the penetration pricing at the initial phase. Therefore, the competition is very low.
  • If the customers are happy with the product, the products get a lot of promotion through the initial customers’ word of mouth publicity.
  • Achievement of cost efficiency by keeping the prices low.
  • Competitors are stopped from penetrating the market and henceforth kept at bay.
  • The turnover is quick and keeps the distributors and retailers happy.

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