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During the Technical Development Phase of the New Product Development

question 123

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During the technical development phase of the new product development process,a physical version of the product is developed; it is called a .


Definitions:

Traditional Marketplace

A physical space where buyers and sellers gather to exchange goods and services, often characterized by face-to-face transactions.

Tangible

describes physical objects that can be seen, touched, and measured, as opposed to intangible items like services or digital products.

Time Utility

The value added to products or services by making them available at the most opportune time.

Digital Marketspace

An online platform or environment where businesses and consumers can interact and conduct transactions electronically.

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