A reason that firms must develop more new products than ever is which of the following?
A) Product life cycles are shorter.
B) Commitments to joint venture partners.
C) They are replacing old customers with new ones.
D) To amortize heavy investments in development labs.
E) The increased difficulty of defending patents and trade names.

Question

Quizplus · Accepted Answer

Product life cycles are becoming shorter due to rapidly changing technology and consumer preferences, which requires firms to continuously develop new products to stay competitive in the market.

A Reason That Firms Must Develop More New Products Than