A manufacturing company that introduces a product must know or anticipate what specific price its __________ currently charge or may charge in the future.
A)present and potential competitors
B)financial institutions
C)suppliers
D)unions
E)regulators

Question

Quizplus · Accepted Answer

Present and potential competitors are the most important factor in determining the price of a product. A company needs to know the market price that its competitors are charging or may charge in the future to set an optimal price for its product. This is essential to stay competitive in the market and generate profits. Financial institutions, suppliers, unions, and regulators may have an impact on pricing in certain situations, but they are not as crucial as competitors.

A Manufacturing Company That Introduces a Product Must Know or Anticipate