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A new product that is not compatible with existing habits and provides no incentive to change is likely to ______?

1) Succeed in the market
2) Fail in the market
3) Create a new market
4) Attract new customers

1 Answer

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Final answer:

A new product not aligned with consumer habits and lacking incentives for change will likely fail in the market. To succeed, a product should provide unique features or produce more efficiently to create a competitive advantage. Option 2 is correct.

Step-by-step explanation:

A new product that is not compatible with existing habits and provides no incentive to change is likely to fail in the market. This is because successful market penetration for a new product typically requires alignment with consumer habits or offering strong incentives to change those habits.

When developing a product, like a web browser, for a market with significant barriers to entry, one may need to innovate around these barriers. Utilizing strategies such as offering unique features that cannot be found in current market offerings or finding ways to produce the product more efficiently can provide a competitive edge.

Additionally, market competition serves as a driver for innovation, including new technologies which can make a product more appealing to consumers, potentially allowing the new entrant to earn above-normal profits before competitors catch up. However, if a product doesn't provide a compelling reason for consumers to switch from what they already use or like, it could struggle against established competitors.

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