Question

Firms that have the highest rates of new product success(82.5% versus 52.9% for other firm)

a) are more likely to employ informal and unstructured process for concept selection

b)are more likely to have global market and operations strategies

c)are less likely to use social media and other communication to gather information

d)are less likely to rely on portfolio analysis

Answer 1

b)are more likely to have global market and operations strategies:

Firms that have a high level of product success would comply with global standards of quality. They would adhere to standards of six sigma to minimize defects, thereby high acceptability. They would be working in global markets and have a structured operations strategy which would have a detailed risk and return strategy. They would have extremely streamlined processes and would heavily rely on social media to communicate their product to the target audience. They would do a proper portfolio analysis so that no similar product under their brand is affected.