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 often considered a high-risk strategy because it involves significant investment in research and development, design, and marketing without any guarantee of success. Many new products fail to gain market acceptance, resulting in significant financial losses for the firm.

Which of the Following Statements Is Not True Regarding New