The Concept Evaluation Phase of the New Product Process Involves

question 6

Multiple Choice

The concept evaluation phase of the new product process involves:

• A) collecting and generating new product concepts that fit an opportunity.
• B) preparing strategy, tactics, and launch details for the marketing plan.
• C) specifying the entire development process and its deliverables.
• D) assessing new product concepts on technical, marketing, and financial criteria.

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Definitions:

Feature-Advantage-Benefit Approach

A sales strategy that involves highlighting a product's features, explaining their advantages, and demonstrating how they provide benefits to the customer.

SPIN Acronym

Stands for Situation, Problem, Implication, Need-payoff, and is a sales technique used to identify and provide solutions to customer problems.

Being Rejected

The experience of not being accepted or approved by others, often resulting in feelings of disappointment or inadequacy.

Customer Relationship Management

A system for managing a company's interactions with current and potential customers, often using data analysis to study large amounts of information.