Analyzing Customer Comments and Other Companies to Find New Product

question 160

Multiple Choice

Analyzing customer comments and other companies to find new product concepts is carried out during which step of the new-product development process?

• A)idea generation
• B)screening
• C)idea evaluation
• D)development
• E)commercialization

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Definitions:

Exclusive Dealing

An agreement between a supplier and a retailer where the retailer agrees to only purchase goods from the supplier, excluding products from competitors.

Best Efforts

A contractual obligation that requires one party to exert all possible efforts to fulfill the terms of the contract without guaranteeing a specific outcome.

UCC

The Uniform Commercial Code is an extensive collection of regulations that oversee commercial dealings within the United States.

Risk of Loss

The potential for an asset to decrease in value or for a financial loss to occur in a transaction.