In Spite of Defmite Customer Demand, New Products Often Fail

question 51

Multiple Choice

In spite of defmite customer demand, new products often fail due to:

• A)faster cycle time.
• B)low customer defection rate.
• C)poor commercialization.
• D)increased response time.
• E)scramble to gain first-mover advantage.

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Definitions:

Price Discrimination

The practice of charging different prices to different consumers for the same product or service, based on willingness to pay.

Antitrust Regulations

Laws designed to prevent anti-competitive practices and promote fair competition among businesses.

Price Discrimination

A pricing strategy where a seller charges different prices for the same product or service to different customers, based on factors like location, age, or buying habits.

Elastic Demand

Refers to a situation where the quantity demanded of a good or service significantly changes in response to changes in its price.