Which of the Following Observations Is True of New Product

question 6

Multiple Choice

Which of the following observations is true of new product policy?

• A) Policy-making criteria on new products should specify a working definition of the profit concept that is acceptable to top management.
• B) There should be no specific time period for the product to become operational as this disturbs the new product development process.
• C) When developing a new product policy, a company should focus on consumer satisfaction levels rather than the product's economic contribution.
• D) A short-term focus is sufficient for an effective new product policy in order to gain competitive advantage.

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Definitions:

Management Practices

Methods, strategies, or procedures implemented by a management team to help an organization reach its goals and maintain efficiency.

Contingency Factors

External or internal variables that can influence the effectiveness of organizational strategies or leadership styles, depending on the specific situation.

Motivational Practice

Techniques or strategies used by organizations or individuals to enhance motivation towards achieving certain goals.

Desired

Something that is longed for or wanted; can pertain to goals, outcomes, or properties sought in various contexts.