The New-Product Development Process

question 157

Multiple Choice

The new-product development process

• A) should have ongoing support from top management.
• B) should avoid applying quantitative screening criteria-since applying such criteria tends to eliminate most of the "really new" ideas.
• C) should be informal-to encourage creativity.
• D) should start whenever the majority of current products are in the market maturity stage of the product life cycle.
• E) All of these alternatives are correct.

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Definitions:

Steps

Sequential actions or procedures followed to achieve a particular end.

Organizational Strategies

Plans or methodologies applied by businesses or institutions to reach goals, optimize performance, and manage resources efficiently.

Efficiency

The ratio of the useful work performed by a machine or in a process to the total energy expended or heat taken in.

Productivity

The measure of efficiency in which goods and services are produced, often evaluated by the output per unit of input.