Penetration pricing is:

Multiple Choice

a pricing strategy in which the initial product price is set high, and short$-$term profits are reaped on the new product.

a pricing strategy in which a new product's initial price is set relatively low in order to gain a large market share.

an approach where the company determines one charge for the labor used on a job and another charge for the materials.

an approach involving cutting a price to broaden demand for a product with the intention of later restricting the supply and raising the price again.

None of these answers are correct.