Many Firms Today Devote Most of Their New-Product Activity to Improving

question 32

Essay

Many firms today devote most of their new-product activity to improving existing products. Why is this strategy beneficial to existing firms in this competitive world?

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Definitions:

Populist

A political approach aiming to represent the interests of ordinary people, often characterized by anti-establishment sentiments.

Political Tolerance

The willingness of individuals or societies to accept and support the rights of others to express and pursue differing opinions and lifestyles.

Minority Groups

Communities or populations that differ from the majority population in terms of racial, ethnic, religious, or linguistic characteristics, often facing social, economic, or political disadvantages.

Homosexuals

Individuals who are romantically or sexually attracted to people of their own sex.