A Local Company Is in the Process of a New-Product

question 18

Multiple Choice

A local company is in the process of a new-product development. It is currently using information from a SWOT analysis to determine what new products are able to strengthen its position in the marketing environment. In what stage is this local company in?

• A)test marketing
• B)new-product strategy development
• C)business analysis
• D)idea generation
• E)idea screening

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Definitions:

Private Citizen

An individual who does not hold any official or public position and is acting in their personal capacity.

Exclusive Right

A legal provision granting someone the sole authority to perform a particular activity or use a specific resource.

Broker

An individual or firm that acts as an intermediary between buyers and sellers to facilitate transactions, typically in exchange for a commission or fee.

Easements

Legal rights granted to use the property of another for a specific purpose, such as right of way or utility lines.