Examlex
Explain what is meant by economic efficiency. Does efficiency imply that the fastest production processes or the most powerful equipment must always be used? Explain.
Idea Screening
The stage of new-product development in which the firm evaluates ideas to determine their fit within the new-product strategy.
Product Development
Product development is the complete process of bringing a new product or service to market, from idea conception, through design and manufacturing, to the final release and marketing.
New-Product Strategy Development
The stage of new-product development in which the company determines the direction it will take when it develops a new product.
Marketing Plan
An action-oriented document or playbook that guides the analysis, implementation, and control of the firm’s marketing strategy.
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