The greatest boost to a firm's competitiveness comes from compressing the time it takes to bring new and improved products to market also known as _________.

Question

Quizplus · Accepted Answer

The term that describes compressing the time it takes to bring new and improved products to market is the product cycle. This refers to the timeline from the development of a new product to its launch in the market. By speeding up this cycle, companies can stay ahead of their competitors and increase their competitiveness. Product innovation, input mix, and market segmentation are all important factors in a firm's success, but they do not directly relate to the speed of the product cycle.

The Greatest Boost to a Firm's Competitiveness Comes from Compressing