Question : Which of the following statement is incorrect?
Option 1: Product cost is the factor affecting price determination.
Option 2: Extent of competition in the market is the factor affecting price determination
Option 3: Company characteristics is the factor affecting price determination.
Option 4: None of the above
Answer (1)
18th Jan, 2024
Correct Answer:
Company characteristics is the factor affecting price determination.
Solution : Company characteristics includes financial strength and degree of control desired. Company characteristics is the factor determining choice of channels.Product cost and extent of competition in the market is the factors affecting price determination.
Hence, option C is correct.
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