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) rolls out an improved product.
B) changes styles.
C) needs to increase bottom line results.
D) enters bids on new contract work.
E) raises prices due to cost escalation.

Question

Quizplus · Accepted Answer

When a firm enters bids on new contract work, it must set a price for the first time specific to that contract.

A Firm Must Set a Price for the First Time