For some firms, speed of new product development appears to be the only real source of competitive advantage in today's economy

Question

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In today's fast-paced and ever-changing economy, firms that can develop and launch new products quickly have an advantage over their competitors. They can better respond to changing customer needs and market trends, and can capture market share before others can. Therefore, speed of new product development can be a key source of competitive advantage for some firms.

For Some Firms, Speed of New Product Development Appears to Be