In class, your instructor presented research about businesses showing profit leaders generate 39% of sales from new products while profit laggards generate 23% of sales from new products. What was the point he was trying to make?
a. It is important for students to be able to critically evaluate research.
b. It is really important for businesses to develop new products.
c. The vast majority of new product ideas fail.
d. You should aim to have between 23% and 39% of your revenue from new products based on these benchmarks.
e. Businesses would be even more profitable if they didn't waste a lot of time and effort developing new products.
Answer: It is really important for businesses to develop new products
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Marketing
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