New-Product Strategy Development Is

question 262

Multiple Choice

New-product strategy development is

• A) the stage of the new-product development process where specific product features and benefits are selected prior creating a new-product prototype.
• B) a formalized protocol for new-product development determined by the director of marketing.
• C) the stage of the new-product development process that defines the role for a new product in terms of the firm's overall objectives.
• D) the process of presenting cross-functional teams with a written new-product concept statement and asking them to respond to it in writing.
• E) the stage of the new-product development process that turns the idea on paper into a prototype, which results in a demonstrable, producible product corresponding to its protocol.

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Definitions:

Quality Information

Information that is accurate, relevant, timely, and reliable, which is critical for effective decision-making processes.

Decision Making

The process of choosing among alternative courses of action to achieve a desired outcome.

Right Time

The most appropriate or optimal moment to perform an action, make a decision, or implement a strategy.

Business Intelligence

The process of tapping information systems to extract and report data in organized ways that are helpful to decision-makers.