What are the two ways that a company can obtain new products?
A)new- product development and acquisition
B)line extension and brand management
C)service development and product extension
D)market mix modification and research and development
E)internal development and brand management

Question

Quizplus · Accepted Answer

The two ways that a company can obtain new products are new-product development and acquisition. New-product development involves creating new products internally through research and development, while acquisition involves purchasing the rights or ownership of an existing product or company. Line extension and brand management are specific strategies for extending the life and reach of existing products, while service development and product extension are variations on new-product development. Market mix modification and research and development are components of the process of new-product development, rather than distinct ways of obtaining new products.

What Are the Two Ways That a Company Can Obtain