Pie City Pizza and Pizza Palace are rival restaurants in a small town. Pie City Pizza sets its prices below average variable cost for two years. After the second year, Pizza Palace goes bankrupt and exits the market. In the third year, Pie City Pizza raises prices significantly. Pie City Pizza is practicing ________ pricing. g

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09-12-2021
Business

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Pie City Pizza and Pizza Palace are rival restaurants in a small town. Pie City Pizza sets its prices below average variable cost for two years. After the second year, Pizza Palace goes bankrupt and exits the market. In the third year, Pie City Pizza raises prices significantly. Pie City Pizza is practicing ________ pricing. g

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OlanmaE OlanmaE · Answer 1 · 2021-12-15T09:54:41+01:00

Pie City Pizza is practicing Penetration pricing.

Penetration pricing is a pricing strategy where competitors lower the prices of their goods and services to gain ground in the market. After they have captured, the market base, they increase their prices to make their gain.

This can be applied when the company wants to promote its products. In the case of Pie City Pizza, they adopted the penetration pricing system that captured the customers of their competitors.

When the competitors left the market, they increased their prices.

Learn more about penetration pricing here:

https://brainly.com/question/3521758