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In the New-Product Development Process, Product Analysis Is Completed Prior

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In the new-product development process, product analysis is completed prior to the product screening stage.


Definitions:

Market Innovation

The introduction of novel products, services, processes, or business models that significantly change the dynamics of a market or industry.

Patents

Legal documents that grant inventors exclusive rights to their inventions, preventing others from making, using, or selling the invention for a certain period of time.

Years

Units of time used to measure duration, typically used as a standard period for comparing events, trends, and economic data.

Application

The act of putting something to use or the process of applying something, such as a theory or skill, in a practical or real-life scenario.

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