True or false?

Citibank offers an opportunity for credit card customers to transfer balances from competitive cards and pay low financing for a six-month period. After the introductory period is over, the rate will increase to the normal interest rate. Citibank's strategy is to penetrate the market and obtain increased market share.

Question

Business

Jan Shepard

2 August, 23:18

True or false?

Citibank offers an opportunity for credit card customers to transfer balances from competitive cards and pay low financing for a six-month period. After the introductory period is over, the rate will increase to the normal interest rate. Citibank's strategy is to penetrate the market and obtain increased market share.

+2

Answers (2)

Know the Answer?

Marisol Johnston · Answer 1

Option - True

Explanation:

The following statement is true in all sense as, we know that,"Citibank offers an opportunity for credit card customers to transfer balances from competitive cards and pay low financing for a six-month period. After the introductory period is over, the rate will increase to the normal interest rate. Citibank's strategy is to penetrate the market and obtain increased market share."

Ramon Foster · Answer 2

True

Explanation:

Citibank offers an opportunity for credit card customers to transfer balances from competitive cards and pay low financing for a six-month period and then after the introductory period, the increasing to the normal interest rate is "true".

Citibank's strategy is to penetrate the market and obtain increased market share is called Penetrative Pricing.

Penetrative approach to pricing is usually done to gain market share quickly.

This is done when a new product is being launched and understood that prices will be raised once the promotion period is over and market share objectives are achieved.