Because Firms Must Be Developing New Products All the Time

question 91

Multiple Choice

Because firms must be developing new products all the time, which of the following statements is true?

• A) Competitors are likely to rapidly introduce product improvements in the market growth stage.
• B) The developed economies experience technological advances quicker than the less-developed economies.
• C) Although the life of different products varies, product life cycles are getting shorter.
• D) One new invention may make possible many new products to replace old ones.
• E) All of these statements are true.

---

Definitions:

Distaste

A feeling of intense dislike or aversion towards something.

High Creativity

The ability to generate novel and valuable ideas or solutions to problems.

Creative Process

A sequence of thoughts and actions leading to the generation of new, innovative ideas or products.

Verification and Application

The process of confirming the accuracy or validity of information or theories and then putting them into practice in real-world situations.