Entirely new products are called
A) innovations.
B) generics.
C) imitations.
D) house brands.
E) adaptations.

Question

Quizplus · Accepted Answer

Entirely new products that are not based on existing products or designs are called innovations. They may offer new benefits, features, or functions that were not previously available, and often require significant research and development efforts to bring to market. Generics and imitations, on the other hand, are based on existing products and may be lower-priced alternatives. House brands are products that are sold under the retailer's own name, and adaptations are existing products that have been modified or customized to suit a specific market or need.

Entirely New Products Are Called