I-ball, a cell phone manufacturer introduces a cell phone targeted at customers ages 70 and above. It has features such as loud volume, large keys, and so forth. How do you classify this product innovation? What could be a possible disadvantage of this product?
Answer: This can be considered a new-to-the-world product. New-to-the-world products are products that create an entirely new market. The product has the greatest cost and risk of all product types.