There Are Seven Stages of the New-Product Development Process

question 11

Multiple Choice

There are seven stages of the new-product development process. The last stage is

• A) business analysis.
• B) screening and evaluation.
• C) market testing.
• D) commercialization.
• E) development.

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Definitions:

Enculturated

The process by which individuals learn and acquire the characteristics, norms, values, and behaviors of their culture through socialization.

Acculturated

The process in which an individual or group adopts the cultural traits or social patterns of another group.

Consumption Patterns

Consumption patterns refer to the habitual behavior of consumers in purchasing and using goods and services, which can be influenced by factors such as income, preferences, and socio-cultural values.

Values

Core beliefs or standards that guide behavior and decision-making.