A firm must set a price for the first time when it develops a new product,when it introduces its regular product into a new distribution channel or geographical area,and when it ________.
A) needs to increase bottom-line results
B) raises prices due to cost escalation
C) rolls out an improved product
D) enters bids on new contract work
E) changes styles

Question

Quizplus · Accepted Answer

When a firm enters bids on new contract work, it must set a price for the first time for that specific contract, similar to setting a price for a new product or new market entry.

A Firm Must Set a Price for the First Time