What Is the Term for New-To-The-World Products,where the Product Category

question 48

Multiple Choice

What is the term for new-to-the-world products,where the product category itself is new?

• A)discontinuous innovations
• B)moderate innovations
• C)slow-diffusing products
• D)venture products

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Definitions:

Purchase Decision

The process by which a consumer decides to buy a product or service, influenced by factors such as need, desire, and the perceived value of the item.

Ultimate Consumer

The end user of a product or service, who purchases and uses goods and services for personal use rather than for resale or production.

Increase Profitability

Strategies or actions aimed at enhancing a company's financial gains by increasing revenue, reducing costs, or both.

Operate Efficiently

The ability of an organization to maximize outputs while minimizing inputs and waste.