What are the four reasons that a company might develop new products and services?
What will be an ideal response?
Answer: Four reasons why a company might develop new products or services or update its existing ones. The first reason is that new products or services can give firms a competitive advantage in the marketplace. The second reason is that new products can provide benefits to the firm (as opposed to benefiting customers directly). The third reason is that companies develop new products or services to exploit existing capabilities. Finally, companies can use new product development to block out competitors.
You might also like to view...
A salesperson sends e-mails to persuade prospects to buy the products of his company. This is a type of ________ marketing
A) buzz B) virtual C) word-of-mouth D) direct E) viral
The most common cultural tradition from which various religions have grown is
A. Greek. B. Abrahamic/West Asian. C. Indian. D. Mesopotamian.
Sleeping is my favorite hobby
A) helping verb B) gerund C) being verb D) infinitive
A curving traffic pattern is most widely used by _____
a. discount stores b. supermarkets c. hardware stores d. specialty stores