Innovative Home Solutions is developing "The Ultimate Mousetrap" based on customer demands and insights gained from a reverse$-$engineered competitor$$s product. Market research suggests a selling price of $$8\mathrm{.}90$ per unit.

Why was it important for the company's engineers to understand the product design and production processes of its competitor?

Group of answer choices

Most of the mousetrap$$s product costs are committed by the design stage of the value chain.

The better mousetrap will only succeed if it is identical to their competitor$$s product.

Understanding product design and production processes is not typically important; the engineers just wanted to better understand the process.

They needed to explain them to customers to justify the better mousetrap$$s cost$.$