Regarding the New-Product Development Process

question 96

Multiple Choice

Regarding the new-product development process:

• A) the hypothesis tested is that the new product idea will not be profitable.
• B) a gradual "roll-out" of the product-region by region-allows for more market testing.
• C) concept tests are done before any physical models are produced.
• D) likely ROI should be estimated throughout the process to force the new idea to prove itself.
• E) All of these alternatives are correct.

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Definitions:

Scientific Method

A systematic approach to research and experimentation that involves the formulation of a hypothesis, collection of data through observation and experimentation, and the formulation of conclusions based on the analysis of the data.

Cognitive Psychology

An area within psychology that explores cognitive functions such as perception, thought, memory, and learning in individuals.

Control Group

A group in an experiment that does not receive the treatment being tested and is used as a benchmark to measure how the other tested subjects do.

Experimental Group

The group in an experiment that receives the treatment or intervention being tested, as opposed to the control group which does not.