What Step in Developing New Products Involves Determining Whether the Product

question 48

Multiple Choice

What step in developing new products involves determining whether the product idea is compatible with company objectives, needs, and resources on a general level?

• A) Product development
• B) Evaluation of competitor's efforts
• C) Screening
• D) Idea generation
• E) Business analysis

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Definitions:

Volatile

Characterized by rapid and unpredictable changes, often seen in financial markets, prices, or demand patterns.

Supply Chain Companies

Businesses involved in the movement of goods from manufacturers to consumers, including production, distribution, and fulfillment services.

Off-Shore Sourcing

The practice of sourcing products or services from suppliers located in foreign countries, often to take advantage of lower costs or specialized skills.

External Forces

External forces refer to outside influences that affect an organization, market, or environment, such as economic conditions, legal policies, and social trends.