The New-Product Development Process Discussed in the Text

question 67

Multiple Choice

The new-product development process discussed in the text

• A) is based on the idea that a firm should eliminate potentially unprofitable product ideas as early as possible.
• B) seeks to take as many ideas to market as possible, hoping to find a breakthrough opportunity.
• C) relies solely on test marketing to decide whether to drop an idea or take it to market.
• D) is especially important since it increases the number of new product ideas that get to the commercialization stage.
• E) None of the above is true.

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Definitions:

Utilities

Services provided by public utility companies, such as electricity, water, and gas, essential for daily living and maintaining a standard of living.

Four Utilities

Refers to the satisfaction or value that customers receive from a product, encompassing form, time, place, and possession utilities.

Marketing Creates

The process through which marketing efforts lead to the creation of value, demand, and brand identity.

Possession

The state or fact of owning, controlling, or having an object, property, or asset.