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Question
your company is in the process of launching a revolutionary high - tech robotic instrument for use in surgical applications. knowing that other companies are also looking to tap into this market, what consideration will be most important for your companys product and can mean the difference between success and failure?
multiple choice
making sure the time to market is quick
making sure the product is not disruptive technology
making sure the product will be open to cannibalization
reducing the products potential to have a competitive advantage
increasing the products position as a fad product
In a competitive market, being the first to introduce a product (quick time - to - market) can give a company several advantages. It can help in capturing market share early, building brand recognition, and setting industry standards. Disruptive technology (if it is) can be an advantage. Cannibalization (where a new product eats into the sales of an existing product of the same company) is generally a negative. Reducing competitive advantage and positioning as a fad product are also negative strategies.
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making sure the time to market is quick