If a producer does not have a new-product development process, it ultimately means:
A) the firm lacks financial resources.
B) the firm does not want to be profitable.
C) the company will survive on current products until going out of business.
D) the firm is incapable of innovation.
E) the firm can survive on old products indefinitely.

Question

Quizplus · Accepted Answer

Without a new-product development process, the company is relying solely on its current products and has no plan for introducing new products to the market. Eventually, consumer needs and wants will change, and the company will be unable to meet those needs, leading to a decline in sales and ultimately, going out of business.

If a Producer Does Not Have a New-Product Development Process