Which of the following statements is true regarding a new product?
A)Failure rate for new products is around 90 percent.
B)A successful new product does more good for a firm than anything else that can happen.
C)The new products process is exceedingly simple.
D)Generally,all the people involved in the creation of a single product belong to the same department.

Question

Quizplus · Accepted Answer

A successful new product can bring significant revenue and profit to a company, increase brand awareness and reputation, and attract new customers. It can be a game-changer for the company's overall success.

Option A is not entirely true. The failure rate of new products varies across industries, and it is not always around 90 percent.

Option C is incorrect as the new product development process can be complex, involving multiple stages and different departments.

Option D is also incorrect as the creation of a new product typically involves cross-functional teams from different departments, such as marketing, research and development, production, and finance.

Which of the Following Statements Is True Regarding a New