Which of the following is NOT a source of price comparator?

Prepare for the CIPS Defining Business Need (L4M2) Test with multiple choice questions and insightful explanations. Enhance your understanding and ensure success!

Market demand forecasts are not considered a direct source of price comparators. Instead, they provide insight into future market conditions and trends rather than actual price points. Price comparators are typically derived from historical data, current market listings, and competitive activity.

Prices that have been paid in the past provide real examples of transactions that can be analyzed to understand pricing trends. Published prices offer clear references for what products or services are currently being charged in the market. Competitive bidding involves evaluating prices put forth by various suppliers in response to a request for proposals, which can establish a benchmark for costs.

In contrast, market demand forecasts focus on predicting future demand levels and price movements based on factors like consumer behavior and economic indicators rather than supplying actual price data for comparison. This distinction is key in understanding the role of different sources in assessing price competitiveness.

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