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What is a common cause of new-product failures?
What is a common cause of new-product failures?
- The product fails to offer the customer a unique benefit. (correct)
- The managers worry too much about the competition.
- The company delays putting the product on the market until it develops a complete marketing plan.
- The company tries to follow an organized new-product development process rather than using a faster and more spontaneous “race-to-market” approach.
Regarding product life cycles, which of the following is false?
Regarding product life cycles, which of the following is false?
- The maturity stage is when sales peak and competition becomes more intense.
- The decline stage is characterized by a decrease in sales and profits.
- The growth stage is marked by rapid market acceptance and increasing profits.
- Many close substitutes are usual. (correct)
When competitors see the success of a new product, what do they typically do?
When competitors see the success of a new product, what do they typically do?
- Sue the firm for creating the product innovation
- Quickly enter the market with a replica of the most successful good or service (correct)
- Invest heavily in R&D to pioneer a new innovative product of their own
- Launch negative publicity campaigns to harm the innovation’s chances of success
What is the common reaction of competitors to a successful new product or product category?
What is the common reaction of competitors to a successful new product or product category?
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What is the typical response of competitors to a successful new product?
What is the typical response of competitors to a successful new product?
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