In the New Product Development Process, a Description of the Features

question 22

Multiple Choice

In the new product development process, a description of the features a product will have and the benefits those features will provide a customer is called a(n) ________.

• A) product idea
• B) product concept
• C) product image
• D) augmented product
• E) product personality

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Definitions:

Amortization Expense

The systematic and gradual charge to expense of the cost of an intangible asset over its useful life.

Functional Currency

A redefined definition: The currency that a business uses for most of its transactions, reporting, and financial statements.

Capital Assets

Long-term tangible or intangible assets used in operations of a business that are not intended for sale in the regular course of business.

Exchange Rates

The rate at which one currency can be exchanged for another currency.