Product Development Strategies Emphasize Both New Products and New Markets

question 126

True/False

Product development strategies emphasize both new products and new markets.

---

Definitions:

Input/Output

A concept referring to the materials, information, or effort (input) going into a process and the resulting product, services, or results (output) produced.

Output/Input

A ratio that measures the efficiency of production or performance by comparing what is produced (output) to what is consumed or used (input).

Continuous-Process Production

A manufacturing process that produces goods continuously rather than in discrete batches, often used in industries like chemicals, oil, and gas.

Chemical Plants

Facilities where chemical processes are conducted on an industrial scale, primarily for the production of chemicals and materials.