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We think that penetrating pricing strategy is best for our product because our product is a movable dustbin which people might not be willing to buy this product at a very high price. Penetrating pricing strategy aims to attract buyers by offering lower prices on goods and services. We will adopt this strategy and might suffer loss in the initial stage. Over time, however, the increase in awareness can drive profits and help small businesses to stand out from the crowd. Once the customers are attracted and start buying our product, we will gradually increase the price.
We think that penetrating pricing strategy is best for our product because our product is a movable dustbin which people might not be willing to buy this product at a very high price. Penetrating pricing strategy aims to attract buyers by offering lower prices on goods and services. We will adopt this strategy and might suffer loss in the initial stage. Over time, however, the increase in awareness can drive profits and help small businesses to stand out from the crowd. Once the customers are attracted and start buying our product, we will gradually increase the price.
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