What Is the Difference Between the New-New Approach and the New-Old

question 18

Multiple Choice

What is the difference between the New-New approach and the New-Old approach when evaluating a new business venture?

• A) The New-New method looks for new ideas to make a product better while the New-old approach uses old ideas to make new innovations on existing products
• B) New-New looks to create a new product or service while New-Old innovates an existing product to make it better
• C) New-New innovates an existing product to break into new markets while New-Old seeks market penetration in existing markets with the new innovation
• D) New-New creates a new product or service for a new market while New-Old seeks to create a new product or service using old ideas.

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Definitions:

Break-Even Sales

The amount of revenue required to cover total fixed and variable costs, beyond which a business starts generating profit.

Break-even Sales

The amount of revenue required to cover all fixed and variable costs, resulting in no profit or loss.

Northern Division

A geographical or organizational subdivision of a company or entity located in the northern region.

Break-even Sales

The amount of revenue needed to cover total costs, at which point a business neither makes a profit nor incurs a loss.