New product development adds value to a firm's products and services through:
A) early majority substitution.
B) innovation.
C) removal of laggards.
D) pioneer pretesting.
E) beta concept testing.

Question

Quizplus · Accepted Answer

New product development adds value to a firm's products and services through innovation, which involves creating new or improved products, services, or processes that better meet the needs of customers or create new markets. The other choices, such as early majority substitution and removal of laggards, are not necessarily outcomes of new product development, and pioneer pretesting and beta concept testing are more specific strategies or methods within the new product development process.

New Product Development Adds Value to a Firm's Products and Services