Which of the following is NOT one of the benefits to a firm of new product development?
A) Reduced costs of production.
B) Satisfying the changing needs of current and new customers.
C) Avoiding market saturation from products that have been on the market for a long time.
D) Creating diversification and reducing risk.
E) Keeping up in a market where sales come mostly from new products.

Question

Quizplus · Accepted Answer

New product development often involves research and development, marketing efforts, and testing which can increase costs in the short-term. While long-term benefits may include cost savings, reducing costs is not typically a direct benefit of new product development.

Which of the Following Is NOT One of the Benefits