GK
MARKETING MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Select the best example for why a company would develop a new product(s).
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The company will make changes or upgrades to existing products to make it “new” again with customers who bought the 1st verison of the product as in the example of the iPhone
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The company will choose to delete or remove products from their product line when sales fall below a certain level because there is no demand for it.
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The company will develop new products to meet a need that has not yet been met or to compete with another company.
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None of the above
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Explanation:
Detailed explanation-1: -New products give you a competitive advantage over your competition. It might be new sales, more shelf space, consumer impressions or other advantages. If you are the market leader, you want to keep your competitive advantage, if you are not the market leader – you need a competitive advantage.
Detailed explanation-2: -1. Google. Our first product development example is a big one. Founded in 1998 by Sergey Brin and Larry Page, Google began as an online search company, but it now offers hundreds of products and services, such as Gmail, YouTube, the Android operating system, Chrome web browser, and more.
There is 1 question to complete.