An organization's loyalty to its own product is a competitive disadvantage in a(n) ____ market.
A) slow-cycle
B) standard cycle
C) intermediate cycle
D) fast-cycle

Question

Quizplus · Accepted Answer

In a fast-cycle market, the pace of innovation and product development is rapid, leading to shorter product life cycles and frequent changes in consumer preferences. In this type of market, organizations need to remain agile and adapt quickly to changing trends and demands. Loyalty to one's product may hinder an organization's ability to pivot and respond to the market, putting it at a competitive disadvantage when compared to more flexible competitors.

An Organization's Loyalty to Its Own Product Is a Competitive