You Are in the New Product Development Process for a New

question 21

Multiple Choice

You are in the new product development process for a new consumer electronics product. So far, everything has been very positive, and you are starting to believe this product might be a blockbuster. As you prepare for the next stage of the process, you are concerned that your competition might try to "jam" your new product by increasing promotional activities for their own products. More importantly, you are concerned that these competitors might try to copy your product as you move into this next stage.
Which of the following stages of the new-product development process are you about to enter?

• A) Product development
• B) Test marketing
• C) Concept testing
• D) Commercialization
• E) Screening

---

Definitions:

Quantity Supplied

The amount of a good or service that producers are willing and able to sell at a particular price over a given period of time.

Equilibrium Price

is the market price at which the quantity of goods supplied is equal to the quantity of goods demanded.

Technology

The application of scientific knowledge for practical purposes, especially in industry, which drives innovation, efficiency, and productivity improvements.

Supply

Supply is the total amount of a good or service available for purchase at any given price level in a given market.