Which of the following is true of new product categories?
A) If a product is new-to-the-world, the risks and uncertainties faced by the firm are higher.
B) If a product is new-to-the-firm, the associated costs of development and launch tend to be lower.
C) Generally, all the new product categories are innovations.
D) New product categories have to be managed in a similar fashion.

Question

Quizplus · Accepted Answer

If a product is new-to-the-world, there is no established market and no previous demand for it, and hence the risks and uncertainties faced by the firm are higher.

Which of the Following Is True of New Product Categories