General Studies · Pricing Strategies
Consider the following statements regarding 'market penetration' as a business pricing strategy: 1. It is highly effective if significant economies of scale can be achieved at higher volumes. 2. It is highly effective if the market demand for a product is highly price-elastic. Which of the statements given above is/are correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Statement 1 is incorrect, Statement 2 is correct
- 2Both Statement 1 and Statement 2 are incorrect
- 3Both Statement 1 and Statement 2 are correct✓
- 4Statement 1 is correct, Statement 2 is incorrect
Correct answer
Both Statement 1 and Statement 2 are correct
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