A New Watch Manufacturer Would Like to Determine the Market

question 65

Multiple Choice

A new watch manufacturer would like to determine the market price of a new line of watches.How could the manufacturer MOST effectively determine the market price?

• A) Place several of the new watches on sale at a watch store and see which sells most quickly.
• B) Arrange to sell the watches in a number of diverse auctions.
• C) Set the price of one watch higher than another and see which sells the most quickly.
• D) Survey potential customers and retailers on what they think the price should be.
• E) Canvass executives from competing companies about what they think the price should be.