If a producer does not have a new-product development process,it ultimately means that the firm
A)lacks financial resources.
B)does not want to be profitable.
C)will survive on current products until going out of business.
D)is incapable of innovation.
E)can survive on old products indefinitely.

Question

Quizplus · Accepted Answer

It is essential for a firm to develop new products or modify its current products to meet changing customer needs and competitors' actions.Not having an active new-product development process means that consciously or subconsciously,the firm has decided to milk its current products and eventually go out of business.This is because old product ideas eventually become obsolete.

If a Producer Does Not Have a New-Product Development Process,it