One of the most common strategies for market penetration is lowering the price of your product or service.
By offering a cheaper or competitive price compared to competitors, you can attract price-sensitive customers and persuade them to choose your product or service.
However, be cautious in determining the price, as excessively low prices can damage the image of your product or service or even lead to losses.
Consider production, distribution, and promotion costs, as well as the value offered by your product or service.
Examples of companies using price adjustment strategies are Indomaret and Alfamart, the two largest minimarket chains in Indonesia.
These companies often offer lower prices than supermarkets or other stores, especially for frequently purchased items.
Additionally, they frequently provide discounts, coupons, or special offers to attract consumer interest.