All of the Following Statements About New Products Are True

question 4

Multiple Choice

All of the following statements about new products are true EXCEPT:

• A) More than one-third of all new products fail
• B) Old products are being withdrawn from the market at an increasingly rapid rate
• C) The key to successful products is solid planning
• D) The risk associated with new product development has been drastically reduced
• E) New products may mean the difference between profit and loss for a firm

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Definitions:

Low Wages

Earnings that are minimal in comparison to the average or median wage levels within a specific area or industry.

Inexpensive Energy

Energy sources that are affordable in cost, often due to technological advancements, efficiency improvements, or subsidies.

Pharmaceutical Companies

Businesses involved in the research, development, production, and marketing of drugs and medications for medical use.

Automobile Manufacturers

Companies engaged in designing, producing, and selling motor vehicles.