The New-Product Process Refers to

question 339

Multiple Choice

The new-product process refers to

• A)the informal process of "brain storming" to generate new-product concepts at a marketing staff meeting.
• B)the process of presenting cross-functional teams with a written new-product concept statement and asking them to respond to it in writing.
• C)the seven stages an organization goes through to identify business opportunities and convert them into salable products or services.
• D)the two stages an organization goes through from idea generation to commercialization.
• E)a formalized protocol for new-product development that begins at the corporate level and ends at the functional level.

---

Definitions:

Exchange Rate

The price of one currency in terms of another, determining how much of one currency can be exchanged for another.

British Goods

Products manufactured in or originating from the United Kingdom, known for their quality and heritage.

Demand Curve

A graphical representation showing the relationship between the price of a good or service and the quantity demanded for a given period.

Euros

The legitimate monetary unit for the eurozone, adopted by 19 of the European Union's 27 member countries.