Product Development Has Become More Challenging Due To

question 18

Multiple Choice

Product development has become more challenging due to:

• A)lack of feedback from superiors.
• B)increased level of employee expectations.
• C)reduction in the budget allocated for HR activities in several firms.
• D)increased globalization.

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Definitions:

New Product

A good or service that is recently developed, introduced, or brought to the market for the first time.

New-to-the-world Products

Products that represent a completely new market offering that has never been seen before, often introducing a groundbreaking innovation.

Law of First Movers

The advantage gained by the initial significant occupant of a market segment, often allowing for the establishment of strong brand recognition and customer loyalty.

Amazon Echo

A brand of smart speakers developed by Amazon, integrating the voice-controlled intelligent personal assistant service Alexa to perform a variety of functions and services.