To create successful new products, a company must _______.
A. focus their new product development efforts only on consumers
B. spend more on R&D that its competitors
C. understand its consumers, markets, and competitors and develop products that deliver superior value
D. cut costs to keep the price of new products low
E. obtain successful products through acquisitions instead of doing internal development
Answer: C. understand its consumers, markets, and competitors and develop products that deliver superior value
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Marketing
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