The management at Hioven Phones believes in performance-improving innovations. The team decides to remodel its second version of cell phone with enhanced user-interfaces and launch a new third version of the same cell phone. Which of the following is likely to happen in this scenario?
A) First-time buyers are more likely to be attracted than repeat customers.
B) Resources used for the production of the old version of the cell phone cannot be shifted to the production line for the new version.
C) There will be a huge potential for creation of new jobs.
D) Sales of the new version of the cell phone will replace sales of the older version.

Question

Quizplus · Accepted Answer

When a new version of a product is launched, it often replaces the older version in the market, leading to a shift in sales from the old version to the new one.

The Management at Hioven Phones Believes in Performance-Improving Innovations