Price can be affected by many factors. These factors can be grouped as external and internal factors13. The external factors include market and demand structure, economic factors, competitors’ costs and prices, distribution channels, legal regulations, and societal concerns. No single company can affect external factors; therefore, companies should adapt them. On the other hand, a company can manage internal factors such as costs, pricing aims of the firm, and diverse variables driven by other elements of marketing mix. The correct answer is B.