The New-Product Process Refers to

question 339

Multiple Choice

The new-product process refers to

• A)the informal process of "brain storming" to generate new-product concepts at a marketing staff meeting.
• B)the process of presenting cross-functional teams with a written new-product concept statement and asking them to respond to it in writing.
• C)the seven stages an organization goes through to identify business opportunities and convert them into salable products or services.
• D)the two stages an organization goes through from idea generation to commercialization.
• E)a formalized protocol for new-product development that begins at the corporate level and ends at the functional level.

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Definitions:

Net Operating Income

The total profit of a business after subtracting operating expenses but before deducting taxes and interest.

Customers Served

The number of unique clients or customers that a business has provided products or services to within a specific period.

Variance

The difference between planned or expected results and actual results in financial and operational metrics.

Budgeting

The process of creating a plan to spend your money, creating an estimate of revenues and expenses over a specified period.