Business Analysis Refers to the Stage of the New-Product Development

question 102

Multiple Choice

Business analysis refers to the stage of the new-product development process

• A)where the direction a company will take in developing a new product is determined.
• B)where it is decided if a product can be developed and marketed within the time and budget constraints of the company.
• C)where a concept test is performed to determine if the product will sell.
• D)where a new product is analyzed to determine its profitability.
• E)where a SWOT analysis and environmental scanning are used to determine if a new product will help strengthen the firm's marketing plan.

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Definitions:

Factual Questions

Inquiries that seek definite, verifiable information based on facts and reality.

Elicit Facts

To elicit facts means to obtain or draw out information or details, usually through questioning or investigation, that are factual and verifiable.

Process

A series of actions, changes, or functions that bring about a result, often referring to the progression of events in a systematic or organized manner.

Influencing Responses

Tactics or methods used to sway or alter someone's reactions or decisions towards a desired outcome.