Steve, a Retiree, Wants to Open a Day Care Facility

question 16

Multiple Choice

Steve, a retiree, 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 costs versus the demand and the profit he could make depending on the volume of sales. After extensive deliberation, Steve decides to take credit from the bank for opening the facility as the initial investment required is too high. Steve is currently in the _____ stage of the new-product development process.

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

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Definitions:

Current Condition

The existing state or situation of something at a given time, reflecting its present characteristics or status.

Black Advocate

An individual, particularly of African descent, who actively supports and fights for the rights and empowerment of Black people.

Colonization

The process by which a central system of power dominates the surrounding land and its components.

Niger Exploring Party

A group or expedition organized to investigate, map, and study the geographical, cultural, and natural aspects of the Niger area.