Why would a company create a knockoff of another product?
What will be an ideal response?
A knockoff product is a new product that copies, with slight modification, the design of an original product. Firms deliberately create knockoff products with the intent to sell to a larger or different market than consumers who would buy the original product.
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Purchasing costs
A. do not depend on standardization. B. are a minor part of hospital expenses. C. go down by getting doctors to agree on the same products. D. are tied to the length of patient stays in the hospital.
In what stage of the capital-budgeting process do managers make the investment and track realized cash flows?
A) Stage 1: Identify projects. B) Stage 2: Obtain information. C) Stage 3: Make predictions. D) Stage 4: Make decisions by choosing among the alternatives. E) Stage 5: Implement the decision, evaluate performance, and learn.