Steve,a Retired Man,wants to Open a Day Care Facility for Dogs

question 55

Multiple Choice

Steve,a retired man,wants to open a day care facility for dogs with his savings.After deciding on the services that he would be providing to his customers,he calculates the preliminary figures for demand,cost,sales,and profitability.After extensive deliberation,Steve decides to take credit from the bank for opening the facility as the initial investment cost estimates are too high.Steve is currently at the _____ of the new-product development process.

• A)​commercialization stage
• B)business analysis stage
• C)idea generation stage
• D)​test marketing stage

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Definitions:

Minimum Payment Warning Box

Information on a credit card statement that explains the consequences of only making minimum payments.

Percent Increase

A measure of how much a quantity grows over a period, expressed as a percentage of the original amount.

Available Credit

The difference between the maximum amount allowed and the actual amount owed on a credit card.

Credit Line

The maximum amount that a person can owe on a credit card at one time.