M&M, a Company Producing Musical Instruments, Had Dominated Its Home

M&M, a company producing musical instruments, had dominated its home market for several years before venturing into international markets. The company was focusing more on international operations until a German company in the same business entered its home market. The German company started selling good quality products at prices much lower than M&M's and affected its sales adversely. Which of the following elements in the marketing environment has affected the business of M&M in the above scenario?

A) Level of technology
B) Structure of distribution
C) Competition in the domestic market
D) Cultural forces
E) Promotion of the product