A company introduces a new product in the market. The company decides that the only way it could attract customers is to keep the price of the product lower than what its competitors offer in the market. Which of the statements would hold true for such a strategy?
A) The company invests heavily in market research.
B) The company makes an effort to offer unique features to the customers.
C) The company emphasizes efficiency.
D) The company must spend substantial funds on research and development.
E) The company encourages expensive advertising campaigns.

Question

Quizplus · Accepted Answer

The strategy of keeping prices lower than competitors typically involves emphasizing efficiency to reduce costs and maintain profitability.

A Company Introduces a New Product in the Market