Why should companies develop and introduce new products?
A) To keep their product designers busy
B) Because failing to do so can threaten the future success of the firm
C) Because it is relatively inexpensive and therefore worth the time
D) To replace deleted products so the broadness of the marketing mix remains unchanged
E) Because new products are almost always successful

Question

Quizplus · Accepted Answer

Failing to introduce new products can lead to stagnation and loss of market share, which can threaten the long-term success of the firm. It is important for companies to continuously innovate and offer new products to stay competitive in the market. A, C, D, and E are not valid reasons for introducing new products.

Why Should Companies Develop and Introduce New Products