What must companies do to create successful new products?

a. understand its consumers, markets, and competitors and develop products that deliver superior value.

b. focus their new product development efforts only on consumers.

c. cut costs to keep the price of new products low.

d. spend more on r& d than its competitors.

e. obtain successful products through acquisitions instead of doing internal development?

Question

Business

Owen Phillips

24 December, 10:14

What must companies do to create successful new products?

a. understand its consumers, markets, and competitors and develop products that deliver superior value.

b. focus their new product development efforts only on consumers.

c. cut costs to keep the price of new products low.

d. spend more on r& d than its competitors.

e. obtain successful products through acquisitions instead of doing internal development?

+5

Answers (1)

Know the Answer?

Harrison Wyatt · Answer 1

To create successful new products, a company must understand its consumers, markets, and competitors and develop products that deliver superior value.

Correct answer: A

Introducing the new product on the market on the other hand, mainly depends on the way in which the product is presented and bot by the product itself.