Asked by Pratik Sanyal on Jun 26, 2024

verifed

Verified

Relatively few new product ideas, perhaps only 1 in 250, become successfully marketed products.

Differentiation

Distinguishing the offerings of an organization in a way that the customer perceives as adding value.

Low Cost

The strategy or condition of offering products or services at a lower price than competitors, aimed at attracting consumers or achieving higher sales volumes.

Rapid Response

The ability to react quickly and effectively to unforeseen circumstances or emergencies.

  • Comprehend the principle of time-oriented rivalry and its influence on the innovation of products and their achievement in the marketplace.
verifed

Verified Answer

NH
Nereesa HenryJul 01, 2024
Final Answer :
True
Explanation :
This is a commonly cited statistic in the field of new product development. It highlights the high risk and failure rate associated with introducing new products to the market.