Which of the Following Is True of the Product Innovation

question 53

Multiple Choice

Which of the following is true of the product innovation charter (PIC) of a firm?

• A) The PIC is formulated at the end of the new products process.
• B) The formulation of the PIC follows the phase of opportunity identification and concept generation.
• C) The PIC precludes the practice of having unwanted proposals eat up valuable development funds before they are detected.
• D) The PIC tends to eliminate less product ideas than any of the other evaluation techniques.

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Definitions:

Profitable Use

The utilization of resources or assets in a way that generates a positive return or profit.

Craft Shows

Events where artisans and makers display and sell their handmade goods, often featuring a wide range of crafts.

Variable Costs

Expenses that vary directly with the level of production or output, such as raw materials and direct labor.

Fixed Manufacturing Overhead

Fixed costs that are related to the manufacturing process, including factory rent, equipment depreciation, and salary of factory supervisors.