Asked by Pratik Sanyal on Jun 26, 2024
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.
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.
Learning Objectives
- Comprehend the principle of time-oriented rivalry and its influence on the innovation of products and their achievement in the marketplace.
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