A Concept Statement Developed During the New Product Development Process

question 27

Multiple Choice

A concept statement developed during the new product development process:

• A) describes the technology to be used for manufacturing the product.
• B) discusses the results of prototype testing.
• C) states a difference and how that difference benefits the customer.
• D) lists the guidelines for developing the new product.

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Definitions:

Robotic Pizza Delivery

The use of autonomous robots to deliver pizzas from the restaurant to the customer's location.

Substitute Products

Substitute products are goods or services that can serve as replacements for each other, fulfilling the same need or purpose, and thus, are in competition with one another.

Rivalry

Describes competition or conflict between individuals, organizations, or nations, often driving innovation or improvement.

Cost Leader

A company that gains a competitive advantage by offering its products or services at a lower price than its competitors without sacrificing quality.