Which of the following statements is true about me-too products?
A) For me-too products,steps in new product development process should never be skipped.
B) The vast majority of new ideas for small businesses will be me-too products.
C) Idea generation is the longest stage in the development of me-too products.
D) Testing a me-too product's differential advantage over competition is a wasted effort.

Question

Quizplus · Accepted Answer

Me-too products are those that are similar to existing products in the market. As small businesses may not have the resources to develop completely new and innovative products, they may opt for me-too products to stay competitive. Therefore, option B is the correct choice. Option A is incorrect as skipping steps in the new product development process can lead to failure. Option C is also incorrect as idea generation is a shorter stage when developing me-too products as ideas already exist in the market. Option D is also incorrect as testing a me-too product's differential advantage over competition is important to identify its unique selling proposition and help it stand out in the market.

Which of the Following Statements Is True About Me-Too Products