The Process of New Products and New Firms Replacing Existing

question 9

Multiple Choice

The process of new products and new firms replacing existing products and firms is called:

• A)transformational innovation.
• B)technological development.
• C)price skimming.
• D)consumer sovereignty.
• E)creative destruction.

---

Definitions:

Rating Systems

Mechanisms or scales used to evaluate or grade a certain attribute or performance of entities, products, or services.

Supply Management

The strategic approach to planning, procuring, and managing a company's supplies and vendors to optimize efficiency and minimize costs.

Demand Management

The process of forecasting, planning, and controlling consumer demand to optimize the supply chain's efficiency and effectiveness.

Supply Chains

Networks of organizations, people, activities, information, and resources involved in moving a product or service from supplier to customer.