An Important Way of Defining New Products Is in Terms

question 179

Multiple Choice

An important way of defining new products is in terms of their effects on consumption. This approach classifies new products according to

• A) the price.
• B) the extent of media promotion.
• C) the degree of potential product cannibalization.
• D) the presence of feature bloat.
• E) the degree of learning required by the consumer.

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Definitions:

Growth Opportunities

Potential situations or actions that can lead to an expansion in business size, operations, or profitability.

Project-Based Groups

Teams formed for the specific purpose of completing a project, disbanding once the project is complete.

Matrix Structure

An organizational structure that assigns specialists from different functional departments to work on one or more projects.

Divisional Structure

A divisional structure is an organizational setup in which the company is divided into semi-autonomous units or divisions, each focusing on a specific product line, market sector, or geographical region.