In a competitive market an electronics company releases a smart phone that is much faster than older models this is an Example of ... following a federal regulation. lowering prices for your customers. Reducing the risk for consumers. Creating an innovative product.

Question

History

Tyson Shea

10 December, 04:52

In a competitive market an electronics company releases a smart phone that is much faster than older models this is an Example of ... following a federal regulation. lowering prices for your customers. Reducing the risk for consumers. Creating an innovative product.

+4

Answers (1)

Know the Answer?

Rex · Answer 1

Creating an innovative product.

Explanation:

So, to make things simple, competitive market means that there is an open market that every company or a product can enter or exit freely. Since there are lot of products from different companies there is a rivalry between them to win over customers to buy their products. They do so by lowering the price, making special offers or innovating the product to enhance the its performances, upgrade it or ameliorate it in any way. In this case, we see that new smartphone is faster which means its features were upgraded, made better so we now have an innovative product.