Revamped products make up the smallest percentage of new products but carry the most risk for the company introducing them.

Question

Quizplus · Accepted Answer

Revamped products, which are updates or improvements to existing products, typically carry less risk compared to entirely new products or innovations because they build on existing market knowledge, customer base, and product validation. New-to-the-world products or innovations carry the most risk due to uncertainties in market acceptance, development costs, and challenges in establishing distribution channels.

Revamped Products Make Up the Smallest Percentage of New Products