New products may be classified from the viewpoint of either the consumer or the firm.

Question

Quizplus · Accepted Answer

New products can be classified from both the consumer's and the firm's perspective. From the consumer's viewpoint, new products can be classified as convenience, shopping, or specialty products. From the firm's viewpoint, new products can be classified as new-to-the-world, new product lines, additions to existing product lines, improvements or revisions to existing products, or repositioned products.

New Products May Be Classified from the Viewpoint of Either