In which of the following phases of the new products process is the first formal type of assessment done on new product concepts with regard to financial, technical, and marketing criteria?
A) Concept or project evaluation phase
B) Product development phase
C) Product launch phase
D) Concept generation phase

Question

Quizplus · Accepted Answer

The first formal type of assessment on new product concepts is typically done in the concept or project evaluation phase, where ideas are evaluated based on financial, technical, and marketing criteria before moving forward with development. The concept generation phase is where new ideas are brainstormed and explored, while the product development phase involves creating and testing prototypes. The product launch phase is when the product is introduced to the market.

In Which of the Following Phases of the New Products