Which of the Following Statements About Simultaneous Product Development Is

question 10

Multiple Choice

Which of the following statements about simultaneous product development is FALSE?

• A) Simultaneous product development refers to the practice of developing multiple new products at the same time.
• B) With simultaneous product development, all relevant functional areas and outside suppliers participate in all stages of the development process.
• C) All departments within the company work together at the same time, but to maintain a high level of secrecy, no one outside the company is involved in simultaneous product development.
• D) Simultaneous product development actually increases the length of time it takes to get a product to market and the time the product will stay in the growth stage of its product life cycle.
• E) The Internet has not yet proven to be a useful tool for implementing simultaneous product development.

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Definitions:

Shift Factors

Variables or conditions that can cause a shift in demand or supply curves, thus changing market equilibrium.

Marginal Revenue Product

The additional revenue generated from employing one more unit of a factor, such as labor or capital, in the production process.

Winner-Take-All Markets

Markets in which a few individuals or companies obtain a large majority of the rewards, often seen in industries like technology and entertainment.

Music Industry

The sector of the economy focused on the production, distribution, and promotion of music and related services.