A New Watch Manufacturer Would Like to Determine the Market

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.