Final answer:
The company is focusing on the support component of the product according to the Product Component Model by altering the price to compete internationally. The correct option is B) support.
Step-by-step explanation:
When a company alters the price of its product to compete with local companies in the international market, it is focusing on the support component of the product, according to the Product Component Model. This concept identifies that the product is much more than just its physical form or core functionality; it also includes elements that give it a competitive edge, such as pricing strategies, services, warranties, and delivery options, which are part of the support. Focusing on the support component helps a business to better integrate into the international market by being sensitive to local competition and consumer expectations.
For example, a business may lower its price to gain market share in a new region, enhance its after-sales services, or adapt its products to meet local standards and preferences. This flexible approach is essential in today's dynamic and interconnected global economy, where consumer preferences and competition can vary significantly from one market to another.