The First Step in the Development of New Products Is

question 105

Multiple Choice

The first step in the development of new products is to:

• A)develop visual images of what the product would look like.
• B)develop brief written descriptions about the working principle of the product.
• C)present an idea to potential buyers to obtain their reactions.
• D)develop new ideas by either internal research or market survey.
• E)conduct in-depth interviews to test the concept of the new product.

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Definitions:

Misrepresentation

A false statement of fact made by one party to another party, which has the effect of inducing that party into a contract.

Contract

A binding contract that is legally enforceable, created between at least two parties.

Fraudulent

Acts that are intentionally deceitful or dishonest, typically for personal gain or to cause a loss to another.

Rescission

The cancellation of a contract to return the parties to their positions before the contract was made.