Which of the Following Is Not a Reason Firms Innovate

question 1

Multiple Choice

Which of the following is not a reason firms innovate and develop new products?

• A)To obey government mandates
• B)To achieve a competitive advantage
• C)To gain market share
• D)To take advantage of higher profitability on a new product
• E)To enhance a brand name

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Definitions:

Stakeholders

Individuals or groups that have an interest or concern in the operations and decisions of a business or project.

Ethical Issue

A situation or problem that requires individuals or organizations to choose between alternatives that must be evaluated as right (ethical) or wrong (unethical).

Marketing Mix

A set of actionable marketing tools—product, price, place, and promotion—that a business uses to pursue its marketing objectives in the target market.

Outsourcing

The business practice of hiring a party outside a company to perform services or create goods that traditionally were performed in-house by the company's own employees.