For which pricing factor do you need to remember that even totally new products are limited in their price range because customers will substitute related products if the price of the new product is not within the expected range?
A) the timing of market entry
B) the nature of the market into which you are selling
C) how products are paid for in your industry
D) the company's cost structure

Question

Quizplus · Accepted Answer

The nature of the market into which you are selling affects pricing because customers have expectations based on existing products. If a new product is priced too high, customers may choose substitutes.

For Which Pricing Factor Do You Need to Remember That