Keith and Andrew Owns a Software Consulting Firm

question 48

Multiple Choice

Keith and Andrew owns a software consulting firm.They wanted to create a new software product.They got a number of ideas from the employees of the firm.After analyzing all the ideas,they chose one particular product idea.Next,they assessed the new product's potential market,growth rate,and likely competitive strength.Further,resources were invested in research and product prototypes were developed to support these research effects.Keith and Andrew's firm has completed the stage of:

• A)postdevelopment review decisions.
• B)commercialization decisions.
• C)making decisions on the business case.
• D)business analysis review.

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Definitions:

Relevant Market

The market in which a particular product or service competes, considering factors like geography, product substitutability, and consumer preferences.

Market Division

An illegal agreement between competitors to split a market into sections where each party restricts its operations to certain geographic areas or customer segments, to reduce competition.

Heavy Equipment

Refers to large and heavy-duty vehicles designed for construction tasks, most notably earthwork operations.

Wholesale Distributor

A business entity that purchases goods in large quantities from manufacturers and sells them in smaller quantities to retailers or other distributors.