New-category entries help companies compete better in an already-established market or enter a new market.

Question

Quizplus · Accepted Answer

Adding new-category entries can give companies a competitive edge in established markets or create opportunities to enter new markets. By offering something unique or addressing unmet needs, companies can differentiate themselves from competitors and attract new customers. This strategy can help businesses grow their customer base and revenue.

New-Category Entries Help Companies Compete Better in an Already-Established Market