Which of the following statements is true of the importance of new products?

A. The failure rate for new products is estimated to be around 90 percent

B. The new products process is exceedingly difficult

C. Radical innovation is detrimental to the survival of a firm

D. All the individuals involved in the creation of a new product generally belong to the same department.

Question

Business

Caylee Nelson

6 April, 17:11

Which of the following statements is true of the importance of new products?

A. The failure rate for new products is estimated to be around 90 percent

B. The new products process is exceedingly difficult

C. Radical innovation is detrimental to the survival of a firm

D. All the individuals involved in the creation of a new product generally belong to the same department.

+5

Answers (1)

Know the Answer?

Hector Harrington · Answer 1

The answer is B. The new products process is exceedingly difficult.

Explanation:

If you look at the other options, you can see that they are wrong. We cannot say that 90% of most new products fail. And radical innovation is required for a company to beat the competition and stay in the market. Besides, it is incorrect to say that all people belong to a one department during the creation of a new product.

Bit it is correct to say that the production process is difficult. Mainly due to the unavailability of necessary financial and capital resources along with the required expertise.