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Business, 05.05.2020 03:58 faithclark0

A startup company Wiivv makes custom, 3D-printed insoles for shoes. Wiivv decided to price its product using the penetration strategy. Instead of charging $175 like other custom insoles, it started offering its product at $60. Within one month, over 2,700 people purchased Wiivv’s product and told their friends about it. Stock was flying out the door, which made Wiivv’s distribution channel partners happy. What advantage did Wiivv tap into by selecting the penetration pricing strategy?

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A startup company Wiivv makes custom, 3D-printed insoles for shoes. Wiivv decided to price its produ...
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