BUSI 406 UNC Final Exam Questions with complete solution

Product Life Cycle - ANSWER-introduction, growth, maturity, decline Greater Comparative Advantage means faster growth new product - ANSWER-a good, service, or idea that is perceived by some potential customers as new continuous innovation - ANSWER-a modification of an existing product that sets one brand apart from its competitors ex. a new toothpaste flavor dynamic continuous innovation - ANSWER-a modification of an existing product that sets one brand apart from its competitors that require minor changes in customer behavior. Ex. Bluetooth stethoscope discontinuous innovation - ANSWER-a totally new product that creates major changes in the way we live Ex. Self driving car Why do new products fail? - ANSWER-No discernible benefits Poor match betwee