Suppose you are in charge of product pricing and marketing strategy for a pharmaceutical company.You will have greater ability to independently set prices for your product if:
A)there are no close substitutes for your product.
B)there are lots of other firms selling closely related products in your market.
C)Your pricing policy should not depend on the number of close substitute products.
D)none of the above

Question

Quizplus · Accepted Answer

If there are no close substitutes for your product, it means that there is less competition in the market and you can set prices independently without having to worry about being undercut by competitors. This gives you greater pricing power and control over your marketing strategy.

Suppose You Are in Charge of Product Pricing and Marketing