Assume a bottled water company is trying to decide on a new pricing st

Assume a bottled water company is trying to decide on a new pricing strategy.

Sound decision making would require the firm’s managers to consider not only how consumers will respond to the product’s own price, but how they will react to the price for the firm’s product relative to the prices of similar products offered by the firm’s competitors. Indicate whether the statement is true or false

ANSWER

TRUE