Business Analysis Is the Stage of the New-Product Development Process

question 45

Multiple Choice

Business analysis is the stage of the new-product development process

• A) during which the target markets are selected and resources are allocated to reach them.
• B) during which the target market segments that show potential are selected and those that do not are eliminated.
• C) that specifies the features of the product and the marketing strategy needed to bring it to market and make financial projections.
• D) during which there is a formal accounting of all monies spent on R&D to determine the return on investment (ROI) that the new product will give back to the firm.
• E) that internally and externally evaluates new-product ideas to eliminate those warranting no further effort.

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Definitions:

External Environment

All outside factors and forces affecting an organization's performance, including economic, legal, technological, and social conditions.

Raw Facts

Unprocessed and uninterpreted data or information without context or meaning.

Observations

The act of carefully monitoring or examining phenomena, events, or behaviors to gather data or insights.

Meaningful

Having significant quality or purpose, often carrying deep importance or value.