Which of these characteristics help a new product move quickly through the early stages of the product life cycle?

Question

Multiple select question.

High risk of use

Comparative advantage

Similar features to existing products

Ease of use

Matches values of target customers

Answer 1

The characteristics that help a new product move quickly through the early stages of the product life cycle are:

1. Comparative advantage - If a new product offers significant benefits over existing products, it is more likely to gain traction and move quickly through the early stages.

2. Ease of use - Products that are easy to understand and use tend to be adopted more rapidly by consumers.

3. Matches values of target customers - When a product aligns well with the values and needs of its target market, it is more likely to be embraced quickly.

The other options, "High risk of use" and "Similar features to existing products," may not contribute positively to the speed of adoption; in fact, they could hinder progress through the product life cycle. High risk typically discourages usage, and similar features might not provide a compelling reason for customers to switch from existing products.