Week 1 - Question of the Week.docx - Question 17 Explain...

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Question 17 Explain several ways that U.S. companies are getting new products to market faster. What are the advantages of getting new products to market faster and what are the risks associated with it? Speed is important when getting a new product to market. Why is it important? If a competitor has a similar product and they beat your company to the market, they could see massive sales if the product is a hit. Furthermore, market reputation can be created by getting to the market first. Companies like Apple, Microsoft, and Samsung are market leaders that have customers waiting in anticipation for new products to be released. There are many advances of getting to the market first such as: Being the first to talk to customers and prospects about a new idea gives you the spotlight. You can take advantage of windows of opportunity when they open. You can keep the momentum going for your company by implementing marketing

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