_____ Are Products That Extend Current Product Lines to Current

question 28

Multiple Choice

_____ are products that extend current product lines to current markets.

• A) New-to-the-world products
• B) New-to-the-firm products
• C) Additions to existing product lines
• D) Improvements and revisions of existing products

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Definitions:

Instant

Occurring or done immediately and without delay.

Life Cycle Cost

The total cost of ownership of a product or system over its entire life, including initial purchase, operation, maintenance, and disposal costs.

Operating Cost

The total amount of money required to run a business, project, or device, excluding capital expenditures.

External Cost

Costs of a transaction that affect people other than the buyer or seller, which are not reflected in market prices.