When entrepreneurs develop new products, other companies also experience growth because they

Asked by maham237 @ 29/11/2020 in History viewed by 1365 People

immediately copy the successful product. create many companion products. try to develop their own products. attempt to improve the product.

Answered by maham237 @ 29/11/2020

Answer;

The new products create many companion products

Explanation;

New products may be defined as any product, service, or idea not currently made or marketed by a company, or which the consumer may perceive as new. New product development is an example of internal strategy in entrepreneurship.

Internal Strategies are strategies for encouraging growth that involve efforts within the company itself.

The dynamics of markets, technology, and competition have brought changes to virtually every market sector and have made new product development one of the most powerful business activities
.

The last step in the new product development process is

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