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

question 33

Multiple Choice

The new-product development 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:

Income Inequality

The unequal distribution of income within a population, often measured by various statistical tools and indicative of economic disparity.

Multitasking

Refers to the ability to handle more than one task at the same time.

Immediate Gratification

The desire to experience pleasure or fulfillment without delay or deferment.

Millennials

The demographic cohort following Generation X, typically born between the early 1980s and mid-1990s to early 2000s.