New-to-the-world products can establish completely new markets or radically change the rules of competition as well as consumer preferences in a market.

Question

Quizplus · Accepted Answer

New-to-the-world products can introduce novel features and functionalities that were previously unavailable in the market. This can attract new customers or entice existing customers to switch brands, thereby changing market dynamics and consumer preferences. It can also create a first-mover advantage for the company that introduces the new product, potentially establishing a new market.

New-To-The-World Products Can Establish Completely New Markets or Radically Change