Screening and Evaluation Refers to the Stage of the New-Product

question 305

Multiple Choice

Screening and evaluation refers to the stage of the new-product process

• A) where prospective customers are exposed to new product prototypes for the first time.
• B) where new product concepts that have been found viable are converted into actual prototypes.
• C) that internally and externally evaluates new-product ideas to eliminate those that warrant no further effort.
• D) that specifies the features of the product and the marketing strategy needed to bring it to market and make financial projections.
• E) where consumers evaluate a new product's performance in an actual-use situation.

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Definitions:

Merchandise Return

Goods returned by the buyer to the seller after purchase due to defects, dissatisfaction, or other reasons, often resulting in a reversal or adjustment of the initial sale transaction.

Sales Tax

A government-imposed tax on sales of goods and services, paid by the purchaser and collected by the seller.

Credit Customer

A customer who purchases goods or services on credit, paying at a later date rather than at the time of sale.

Payment Terms

The conditions under which a seller will complete a sale. Typically, these terms specify the period allowed to a buyer to pay off the amount due and may include cash discounts for timely payment.