All of the following are benefits of new product development to a firm except
A) reducing the costs of production.
B) satisfying the changing needs of current and new customers.
C) avoiding market saturation from products that have been on the market for a long time.
D) creating diversification and reducing risk.
E) keeping up in a market with short product life cycles where sales come mostly from new products.

Question

Quizplus · Accepted Answer

New product development typically involves significant investment and may not directly reduce production costs. Instead, it focuses on meeting customer needs, avoiding market saturation, diversifying offerings, and staying competitive in markets with short product life cycles.

All of the Following Are Benefits of New Product Development