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About Half of All New Products Developed Turn Out to Be

question 228

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About half of all new products developed turn out to be marketplace successes.


Definitions:

Industry

The production of goods or services within an economy that are related by their primary business activities, sector, or domain.

Cutthroat Oligopolist

A situation in an oligopoly where companies compete aggressively, often with price cuts, to the detriment of their competitors.

Prices

The sum of money needed to buy a product or service.

Competitors

Other businesses or individuals that offer similar goods or services within the same market, competing for the same customers.

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