New-to-the-world products can establish completely new markets or radically change the rules of competition as well as consumer preferences in a market.
Answer the following statement true (T) or false (F)
True
Truly new product introductions-that is, new-to-the-world products that create new markets-can add tremendous value to firms. These new products, also called pioneers or breakthroughs, establish completely new markets or radically change the rules of competition as well as consumer preferences in a market.
You might also like to view...
As a general rule, revenue is recognized at the point of sale. Which one of the following situations illustrates this rule?
a. Products are sold to customers on credit with payment due in 30 days. b. Employees are paid wages the week after the wages are earned. c. Products are purchased for resale purposes. d. Interest is collected from amounts loaned to employees.
Which of the following pricing objectives does an organization adopt when it sets the price of its
products high in order to indicate product superiority? A) product-quality leadership pricing objective B) market skimming pricing objective C) market share maximization pricing objective D) profit maximization pricing objective
Stefanovich Corporation makes one product. The company has provided the following information concerning its raw materials needs:•The ending raw materials inventory should equal 20% of the following month's raw materials production needs. •Each unit of finished goods requires 2 pounds of raw materials. •The raw materials cost $3.00 per pound. •The company will need 26,440 pounds of raw material to satisfy production needs in March. The raw materials inventory balance at the end of February should be closest to:
A. $14,568 B. $74,136 C. $15,864 D. $88,704
A trust that gives the individual establishing the trust the ability to direct income from the trust to his or her spouse over the spouse's life, and then, at the spouse's death, to choose to whom the assets go is called a
A) sprinkling trust. B) Q-TIP. C) A-B trust. D) credit-shelter trust. E) unified credit trust.