Above All Else, New Product Development Must Be

question 98

Multiple Choice

Above all else, new product development must be .

• A) based on competitive products
• B) generated by teams of external consultants
• C) internally developed
• D) customer centred
• E) none of the above

---

Definitions:

Automobile Industry

Refers to the global industry involved in the design, development, manufacturing, marketing, and selling of motor vehicles.

Monetary Theory

A body of economic theories that examines the role of money in affecting the economy, including the supply, demand, and value of money.

Reducing Inflation

The process of implementing monetary and fiscal policies to slow down the rate at which the general level of prices for goods and services is rising.

Inflationary Spiral

A situation where increases in price levels lead to higher wages, which then lead to further increases in prices, creating a continuously rising spiral of inflation.