Companies usually "benchmark" their prices against which of the following?
A)Government price regulations
B)World class manufacturers
C)Major competitors
D)Customers

Question

Quizplus · Accepted Answer

Companies usually benchmark their prices against major competitors to ensure that they are competitive in the market and that they can attract customers. However, they may also take into account other factors such as production costs, profit margins, and customer demand. Government price regulations may play a role in some industries, but they are not typically used as a benchmark for prices. World-class manufacturers may serve as an inspiration for improving production processes, but their prices may not reflect the market realities of a particular industry. Customers may provide feedback on prices, but they do not set the industry standards for pricing.

Companies Usually "Benchmark" Their Prices Against Which of the Following