BUSINESS ADMINISTRATION
MARKETING MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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low-cost products designed to obtain an edge in highly competitive markets
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new product enhancements that supplement established products
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new versions of an existing product that has been less successful
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new products that create an entirely new market
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Detailed explanation-1: -New-to-the-world products are products that have never been created or introduced to the market before. They are completely innovative and not derivative of older products.
Detailed explanation-2: -New-to-the-world products: these are innovative products that create completely new markets.
Detailed explanation-3: -Product development–also called new product management–is a series of steps that includes the conceptualization, design, development and marketing of newly created or newly rebranded goods or services.
Detailed explanation-4: -Launch: The process by which a new product is introduced into the market for initial sale. Commercialization: The process of taking a new product from development to market.
Detailed explanation-5: -1. new to the world products (also called discontinuous innovations): These products create an entirely new market.