One source of new-product ideas is competitors. Steven Fischer recently joined Frankie and Alex Specialty Products as a brand manager. His new boss told him, “We don’t have a budget for new-product development. We just monitor our competitors’ new-product introductions and offer knockoffs of any that look like they will be successful.”

1. Is this practice ethical? Why or why not? Justify your answer.

2. Give four (4) examples of products that have been introduced based on similar products.