The basis of entering a new industry at the Introduction phase is

Question

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Effective product innovation is the basis of entering a new industry at the Introduction phase. This is because during the Introduction phase, the product itself is new and innovative, and there is a high degree of uncertainty and risk involved. Companies that can develop and introduce new products that meet the needs of the market have the best chance of success. Process innovation, promotional materials, and salespeople are also important, but they are secondary to product innovation in the Introduction phase.

The Basis of Entering a New Industry at the Introduction