The following are the statements relating to the new product development. Indicate the statements being correct or incorrect.
Statement (I): Most established companies do not focus on incremental innovation for new product development.
Statement (II): Most established companies enter new markets by tweaking products for new customers.
Code:
1
Both the statements are correct.
2
Both the statements are incorrect.
3
Statement (I) is correct while Statement (II) is incorrect.
4
Statement (I) is incorrect while Statement (II) is correct.