Steve,a Retiree,wants to Use His Savings to Open a Day

question 33

Multiple Choice

Steve,a retiree,wants to use his savings to open a day care facility for dogs.After deciding on the services that he would provide to his customers,he calculates costs versus the demand and the profit he could make depending on the volume of sales.After extensive deliberation,Steve decides to take a bank loan because the needed initial investment is too high for opening the facility.Steve is currently in the _____ stage of the new-product development process.

• A) commercialization
• B) business analysis
• C) idea generation
• D) test marketing

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Definitions:

Survival of Species

The continued existence of a species through reproduction and adaptation to environmental changes, ensuring it does not become extinct.

Lee

A common surname that can have different origins, including English, Chinese, and Korean, often denoting a family lineage or heritage.

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Different manners or ways individuals express and experience love, influenced by personal, cultural, and social factors.

Intimacy

A close, familiar, and usually affectionate or loving personal relationship with another person or group.