Which of the following statements is NOT true regarding new product development?
A) New product development involves designing, producing, and selling new products as a means of increasing firm revenues and profits.
B) When new product development is properly executed, there is tremendous upside potential.
C) The key to successful new product development strategy is to develop products that aren't simply "me-too" products.
D) In general, developing new products is a low-risk strategy.
E) In many fast-paced industries, new product development is a competitive necessity.

Question

Quizplus · Accepted Answer

Developing new products is generally a high-risk strategy, as it involves significant investments in research and development, production, and marketing. Many new products fail, resulting in significant losses for the company.

Which of the Following Statements Is NOT True Regarding New