You Were Just Hired to Manage the New-Product Development Process

question 86

Multiple Choice

You were just hired to manage the new-product development process at a consumer products company. In your first meeting with the CEO since being hired, she recounted to you the numerous times in the past when the company launched products it thought would be successful. However, it later came to realize the products had a detrimental impact on the company's overall costs and profits mix. She wants you to revamp the company's new product development process to prevent this from happening in the future.
Which of the following steps in the new-product development process should you overhaul in order to address the CEO's concerns?

• A) Concept testing
• B) Product development
• C) Idea generation
• D) Test marketing
• E) Business analysis

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Definitions:

Supply Of Peaches

The total quantity of peaches that producers are willing and able to sell at a given price over a specified time period.

Price Of Peaches

The cost at which peaches are sold, which can vary based on factors like season and quality.

Bumper Crop

An exceptionally large harvest of crops, often resulting from favorable growing conditions.

Excess Supply

A situation where the quantity of a good or service offered for sale exceeds the quantity demanded at the current price.