The New-Product Process an Organization Goes Through to Identify Business

question 304

Multiple Choice

The new-product process an organization goes through to identify business opportunities and convert them into salable products or services contains

• A)three main steps: research,production,and distribution.
• B)four distinct steps: research,evaluation,production,and distribution.
• C)five key phases ranging from idea generation to creating the first prototype.
• D)seven stages from new product strategy development to commercialization.
• E)three phases: planning,implementation,and evaluation.

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Definitions:

Egocentrism

A cognitive bias where an individual is unable to understand or assume any perspective other than their own.

Peer Group

A social group whose members have interests, social position, and age in common.

Generation

A group of individuals, most often classified by their birth years, who experience similar cultural, social, and economic conditions at roughly the same stage in life.

Socialized

Refers to the process through which individuals learn the values, norms, and required behaviors of their society or group.