BAS 282 exam 2023 with 100% correct answers

Developing new or updated products in order to maintain or advance a product's market position and meet changing consumer demands is known as ______. - correct answer innovation Select the two traits of all new products. - correct answer * They are functionally different from existing products on the market. * They are not marketed in their current form by the company. Although they make up the smallest percentage of new products, ______ products provide innovative benefits that often render existing products obsolete. - correct answer new-to-the-market From the following list, select all of the true statements about new category entries. - correct answer * They are less risky than new-to-the-market products because they don't represent something that has never been sold before. * They help companies compete better in an already-established market or enter a new market.