During the New Product Development Process,gathering Consumer Insights Is LEAST

question 6

Multiple Choice

During the new product development process,gathering consumer insights is LEAST important during the ________ stage.

• A) testing
• B) development
• C) commercialization
• D) business evaluation

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Definitions:

Externality

A consequence of an economic activity that is experienced by unrelated third parties; it can be either positive or negative.

Efficient Allocation

An optimal distribution of resources in an economy where it is not possible to make someone better off without making someone else worse off.

Resources

Assets, materials, and inputs needed to produce goods and services in an economy.

Standard of Living

A measure indicating the degree of wealth, comfort, material goods, and necessities available to a certain socioeconomic class in a certain geographic area.