Successful product introductions tend to have similar characteristics. Which of these is NOT one of those...
Successful product introductions tend to have similar
characteristics. Which of these is NOT one of
those characteristics?
a) A history of listening carefully to customers
b) Strong leadership
c) A vision of the future market
d) An obsession with producing the best possible product
e) Focusing on cost reductions
Homework Answers
Answer: (e) Focusing on cost reductions
Explanation: Organizations from different sectors and industries face trouble while introducing new products in the market. There are many underlying reasons for product failures but the most common ones include the availability of cheaper alternatives in the market and no or negligible demand of the product among the customers. The organizations that are able to achieve success in market with new product launches usually have strong leadership at its core, they are able to listen and understand their customer needs better than their competitors, they have a vision of how the future market will look like and they are obsessed with producing the best possible product for their prospective buyers.
However, successful companies do not necessarily worry about cost reductions as it may bring down the quality of the product.
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