Which of the following statements is not true regarding new product development? In many fast-paced industries, new product development is a competitive necessity. The key to successful new product development strategy is to develop products that aren't simply "me-too" products. When new product development is properly executed, there is tremendous upside potential. New product development involves designing, producing, and selling new products as a means of increasing firm revenues and profits. In general, developing new products is a low-risk strategy.