Outline the Six Stages of New Product Development and Explain

question 180

Essay

Outline the six stages of new product development and explain why they are important to an entrepreneur thinking about entering a new market.

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Definitions:

Likelihood

The probability or chance that a particular event will occur.

Operant Process

The method by which behaviors are modified through the consequences of those behaviors, emphasizing reinforcement and punishment.

Negative Reinforcement

A concept in behavioral psychology where the removal of an unpleasant stimulus in response to a desired behavior increases the likelihood of that behavior being repeated in the future.

Aversive Punishment

A form of behavior modification that involves presenting an unpleasant stimulus to decrease the likelihood of a behavior's recurrence.