Which of the following statements is correct?

Question

Quizplus · Accepted Answer

describe the product life cycle, new product development and the product adoption process. The introduction stage marks the first appearance of the product in the marketplace. The market is likely to know little or nothing about the product, and so the organisation must often make a considerable investment in promotional activities in order to build awareness of, and interest in, the product - and to trigger potential customers to evaluate, trial and purchase the new product. Although research and development can be expensive, the organisation should make the appropriate investment at the new product development stage. If the organisation does not conduct focus groups and market research, it risks launching a poor or unappealing product. In addition to failing to generate profits, such a product can damage the organisation's reputation and brand.

Which of the Following Statements Is Correct