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Problem

New industrial products that succeed provide clear-cut advantages to customers. Define product advantage and provide an example of a recent new product introduction that fits this definition.

Step-by-step solution

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Step 1/2

Product Advantages

New industrial products that succeed provide following advantages.

• From a customer’s point of view product advantages is related to the cost, quality and performance of the product

• Every successful product provides clear cut advantages like getting product at low or discounted price, high quality and better performance, to their customers

Step 2/2

Example

Vsacn, a pocket sized imaging device developed by GE Healthcare engineers from around the world is an example of new product introduction.

When GE’s CEO Jeffrey Immelt demonstrate Vscan, he say that Vscan could be the stethoscope of the 21st century. Vscan incorporates several powerful capabilities as compared to the other stethoscopes presently available in the market.

Several capabilities of Vscan like- is portable, can be used by doctors to diagnose disease and confirm symptoms, can be used in clinics, hospitals, emergency rooms or primary care setting, will definitely going to provide clear cut advantages to its customers.