The Phase of New-Product Development in Which a Small Sample

question 46

Multiple Choice

The phase of new-product development in which a small sample of potential buyers is presented with a product idea through a written or oral description in order to determine their attitudes and initial buying intentions regarding the product is called:

• A)concept testing.
• B)customer response testing.
• C)idea analysis.
• D)test marketing.
• E)screening.

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Definitions:

Original Cost

The initial expenditure involved in acquiring an asset or launching a project.

Cash Proceeds

Cash proceeds are the total amount of cash received from transactions, sales, financing, or other business activities during a specific period.

Cash Flow Statement

A financial document that provides a summary of the money flowing into and out of a company during a specific period, distinguishing between operations, investments, and financing activities.

Cash Outflow

Money that flows out of a business, typically as payments for expenses, investments, or acquisitions.