In the early growth stages of a product, particularly a new technology, _____ competition must be defined since a large part of the marketing task is to convince customers to substitute a new product for an existing one that was previously satisfying their needs.
A) Product form
B) Generic
C) Budget
D) Product category
E) Product feature

Question

Quizplus · Accepted Answer

In the early growth stages of a new technology or product, the competition is often not just with similar products but with different products or solutions that satisfy the same need. This is known as generic competition, where the focus is on convincing customers to change their habits or preferences from an existing solution to the new product, regardless of the form, category, or specific features of the products involved.

In the Early Growth Stages of a Product, Particularly a New