In the Context of the Concept or Project Evaluation Phase

question 23

Multiple Choice

In the context of the concept or project evaluation phase of the new products process, a _____ is a product definition that includes the intended market user, the problem perceived, the benefits the new product would have to have, plus any mandatory features.

• A) screening concept
• B) process concept
• C) protocol concept
• D) pilot concept

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Definitions:

Expected Value

A calculated average of all possible values for a random variable, reflecting the expected level of gain or loss over time for a given situation or set of outcomes.