Why Are Businesses Interested in the Development of New Products

question 207

Short Answer

Why are businesses interested in the development of new products?
The federal government encourages every product manufacturer to spend 1% of revenue on new product development.
New products are necessary to stay in business.
New products keep the warranty and service departments busy.
New products provide the fun that marketing managers need.
Product development provides an opportunity for large tax write-offs.

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Definitions:

Neurotransmitters

Neurotransmitters are chemical messengers that transmit signals across synapses from one neuron to another, playing crucial roles in neuronal communication and function.

Free Will

The concept or belief that human beings possess the capacity to make choices that are not predetermined by past events, genetics, or environmental factors.

Positive Psychologist

A positive psychologist focuses on studying and enhancing the positive aspects of human life, such as well-being, happiness, and fulfillment.

Grateful

Feeling or showing appreciation for something done or received.