Which of the following statements is true about the factors that affect pricing decisions?
A) Information about competitors' technologies is not useful for pricing decisions.
B) Information about a competitor in a perfect market affects pricing decisions.
C) Increase in price of a substitute product does not affect pricing decisions.
D) Managers must always be aware of the competition when pricing their products

Question

Quizplus · Accepted Answer

Managers must always be aware of the competition when pricing their products. Factors such as competitors' pricing strategies, market share, and customer preferences can all impact pricing decisions. Additionally, information about substitute products and technologies can also affect pricing decisions. In a competitive market, companies must consider all of these factors in order to set prices that are competitive and profitable.

Which of the Following Statements Is True About the Factors