The New-Product Process an Organization Goes Through to Identify Business

question 121

Multiple Choice

The new-product process an organization goes through to identify business opportunities and convert them to a salable good or service contains

• A)three main steps: research, produce, and distribute.
• B)four distinct steps: research, evaluate, produce, and distribute.
• C)five key phases ranging from idea generation to creating the first prototype.
• D)seven stages from new product strategy development to commercialization.
• E)three phases: planning, implementation, and control.

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Definitions:

Toro Lawn Mowers

A brand known for manufacturing a variety of lawn care equipment, including mowers designed for both residential and commercial use.

Brand Equity

The value and strength of a brand that determines its worth, based on consumers' perception, recognition, and loyalty.

Celeron

A brand name for a line of budget x86 microprocessors developed and marketed by Intel, aimed at the low-end consumer market.

Pentium Chips

Microprocessors produced by Intel, introduced in 1993, known for their use in personal computers and servers.