The creation of a successful new product depends on a company's understanding of its ________ and its ability to deliver ________ to customers.
A)competitors,distributors and employees;new styles
B)customers,brands and products;product images
C)customers,competitors and markets;superior value
D)product,marketing mix and marketing strategy;functional features
E)product life-cycle,legal responsibilities and social responsibilities;innovations

Question

Quizplus · Accepted Answer

The understanding of customers, competitors and markets helps a company identify its target audience, determine the competitive landscape and develop a unique value proposition that will differentiate its product from others in the market. Delivering superior value to customers is critical for the success of a new product, as it ensures customer satisfaction and loyalty. The other options either miss important elements (A, D and E) or include irrelevant ones (B).

The Creation of a Successful New Product Depends on a Company's