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:

Disaffirmed Contract

A contract that has been declared void or invalid by one of the parties involved, often due to reasons like lack of capacity or legality.

Ratified

Confirmation or approval of an act or agreement that was not initially authorized by the party in question, making it legally binding.

Reasonable Time

A time frame which is fair and appropriate under the circumstances, often interpreted within the context of contract performance.

Ratify

To formally approve or confirm an agreement, contract, or decision, often after the fact, to make it officially valid and binding.