Asked by Megan Beadle on May 28, 2024

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The loss of sales due to a new product which you recently introduced is an example of erosion.

Erosion

The gradual reduction or diminution of something, often referring to the wearing away of assets, margins, or competitive advantage over time.

New Product

An item or service that has been recently developed or introduced to the market.

  • Perceive and gauge the impact of erosion upon appraising new endeavors.
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MW
Megan WillisJun 02, 2024
Final Answer :
True
Explanation :
Erosion in this context refers to the reduction in sales of an existing product due to the introduction of a new product by the same company, which diverts customers or sales from the older product to the new one.