An offering that is different in any way from a company's other products is known as a new product even if it is a refined version of a previous product.
Competitors are other companies that may offer the same or similar products or services to customers. His seven stages of the new product development process are idea generation idea screening concept development testing business and marketing strategy development product development test marketing, and commercialization.
Competition between companies selling similar products and services. Direct Competitors are Companies that offer the same products and services to the same target market and customer base. Indirect Competitors: Companies offering the same products and services, but with different ultimate goals. Together, these companies seek to reduce the intensity of competition in their industry to protect themselves and maintain profitability.
Learn more about A company's other products here:-https://brainly.com/question/17197201
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