In Order to Get Their New Products to Market More

question 48

Multiple Choice

In order to get their new products to market more quickly,many companies are adopting a faster,team-oriented approach called ________.

• A)simulated new-product development
• B)sequential product development
• C)team-based new-product development
• D)phased-in new-product development
• E)market development

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Definitions:

Product Liability

The legal responsibility of manufacturers and sellers for defects or hazards in products that cause harm.

Restatement (Third)

A reference to the third series of restatements of American law, which are compilations summarizing the court rulings on various legal subjects.

Product Defects

Flaws or errors in a product that make it unsafe or unfit for its intended use, possibly leading to recalls or liability issues for the manufacturer.

Strict Liability

A legal principle that holds an individual or entity responsible for damages or losses, regardless of fault or intention, in certain types of cases.