MARKETING
MARKETING
9th Edition
ISBN: 9780324362084
Author: Lamb
Publisher: CENGAGE L
Question
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Chapter 11, Problem 5LO
Summary Introduction

To discuss: The diffusion process by the manner in which new products are adopted.

A product can be defined as a thing that could be provided in the market for acquisition, attention, consumption, or for utilization, which may satisfy a need or a want.

The process of developing a new product to the market is known as new product development. The company might engage in the development of new product due to increasing competition, update in technology, or change in customer preferences.

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