Which of the following is a risk and difficulty companies face when developing new products?
A) competitors could deliver the good or service faster to the market, more economically, or with stronger financial support
B) target consumers may not respond to the new offering as anticipated
C) the government might impose restrictions on product testing procedures
D) all of the above are risks the company may encounter

Question

Quizplus · Accepted Answer

When developing new products, companies encounter numerous risks, such as the fact that competitors could appropriate the good/service idea and deliver the final good or service to the market more swiftly, economically, and with stronger company backing (brand reputation, financial support) than the initial good/service developer; target consumers might not respond as anticipated to the offering because it does not meet their needs, because they cannot afford it, and/or because they prefer to adopt a product later in the product lifecycle stage, when the product is proven and more affordable; and the government might impose restrictions on product-testing procedures.

Which of the Following Is a Risk and Difficulty Companies