Often a new market entrant, who wants to compete with incumbents' costs, introduces a ________.
A) new advertising campaign
B) new production technology
C) new product design
D) new unique style

Question

Quizplus · Accepted Answer

To compete with incumbents' costs, a new market entrant needs to introduce a new production technology that allows them to produce goods or services at a lower cost as compared to their competitors. A new advertising campaign or product design or unique style may attract customers, but it may not necessarily reduce the production costs.

Often a New Market Entrant, Who Wants to Compete with Incumbents