Which of the following is NOT a way a firm can obtain new products?

• A. Acquiring another company that owns the desired products
• B. Developing products through internal research and development
• C. Reducing the price of existing products
• D. Licensing products from other firms

Answer: (C)

Verified step by step guidance

1. Step 1: Understand the question is asking which option is NOT a way a firm can obtain new products. This means we need to identify methods that do not result in acquiring new products.
2. Step 2: Review the options that involve obtaining new products: acquiring another company, developing products internally, and licensing products from other firms. These are all valid methods for obtaining new products.
3. Step 3: Analyze the option 'Reducing the price of existing products.' Consider whether lowering prices creates new products or simply changes the sales strategy for products already owned by the firm.
4. Step 4: Recognize that reducing the price of existing products does not create or acquire new products; it only affects the demand or sales of current products.
5. Step 5: Conclude that the option 'Reducing the price of existing products' is NOT a way to obtain new products, while the other options are valid methods.