The Screening and Concept Testing Stage of the New-Product Development

question 147

Multiple Choice

The screening and concept testing stage of the new-product development process is used to:

• A) eliminate undesirable ideas and predict consumer acceptance
• B) refine the promotion campaign to be used with the new product
• C) determine the potential profits to be gained from the new product
• D) determine how long the test market should be run
• E) generate new-product ideas

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Definitions:

Federal Statute

A law enacted by the legislative branch of the federal government of the United States.

Agency Relationships

A legal relationship where one party, the agent, is authorized to act on behalf of another party, the principal, in business transactions.

Gratuitous Agent

An agent who acts on behalf of another without any compensation for their services.

Duty Of Loyalty

An obligation of fiduciaries to act in the best interest of the beneficiaries or the entities they serve, avoiding conflicts of interest.