What type of product can create their own markets and can price at a premium?
A) Me-too products
B) Incrementally innovative products
C) Truly innovative products
D) Well-known products

Question

Quizplus · Accepted Answer

Truly innovative products have the potential to create their own markets as they introduce new features or benefits that were not previously available. These products can also be priced at a premium due to their uniqueness and market demand. Me-too products and incrementally innovative products are similar to existing products and may struggle to establish a new market or command a premium price. Well-known products may have brand loyalty, but they are not necessarily innovative and may face competition from similar products. Truly innovative ones can create their own markets and can price at a premium.

What Type of Product Can Create Their Own Markets and Can