In the Idea Screening Phase of a New Product Development

question 42

Multiple Choice

In the idea screening phase of a new product development process,a firm finds that it lacks the resources and expertise necessary to produce a product.Which of the following is the best course of action for the firm?

• A)It should consider the strategy of selling its existing products at lower prices.
• B)It should stop wasting time,manpower,and funds on new product development.
• C)It should quickly discount the new product idea.
• D)It should consider forming joint or strategic alliances with other firms.

---

Definitions:

Low-Income People

Individuals or families who earn income significantly below the median levels for their geographical area, often leading to financial hardships.

Dependent Children

Minors who rely on adults, usually their parents or guardians, for financial support and care.

Health Insurance

A form of insurance coverage that pays for medical and surgical expenses incurred by the insured.

U.S. Population

The total number of people living in the United States, a figure that is determined through census data.