In the wake of a major competitor going out of business,BBC Transit has dropped prices to grab market share quickly before the remaining competition.What pricing strategy is BBC using?

Question

Quizplus · Accepted Answer

BBC is using a penetration pricing strategy, which involves setting low prices to quickly gain market share and drive out competitors. This strategy is often used in competitive markets or during times of economic downturn.

In the Wake of a Major Competitor Going Out of Business,BBC