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:

Economic Development

The process by which the economic well-being and quality of life of a nation, region, or local community are improved according to targeted goals and objectives.

Birth Rate

Birth rate is a demographic measure representing the number of live births per 1,000 people in a given year.

Military Spending

The portion of a national budget allocated for defense and security forces.

Economic Growth

An increase in the production of goods and services in an economy over a period of time, typically measured by the rise in GDP.