When European budget carrier Ryanair announced a plan to offer $10 tickets for flights between London and New York, it was engaging in what type of pricing strategy?

Question

Quizplus · Accepted Answer

Undercut pricing is a strategy used to enter or exist in a market by setting prices lower than the competitors. Ryanair's plan to offer $10 tickets for flights between London and New York is an example of undercut pricing, aiming to attract customers by offering significantly lower prices than those of competitors.

When European Budget Carrier Ryanair Announced a Plan to Offer