Which stage of new product development requires management to estimate minimum and maximum sales to assess the range of risk in launching a new product?
A) concept testing
B) marketing strategy development
C) business analysis
D) product development
E) test marketing

Question

Quizplus · Accepted Answer

Business analysis is the stage of new product development where management estimates the minimum and maximum sales to assess the range of risk in launching a new product. In this stage, the financial feasibility of the product is evaluated, including an analysis of costs, revenues, and potential profits. This analysis helps determine if the product is worth investing in and whether it will generate enough revenue to cover its development costs and provide a return on investment.

Which Stage of New Product Development Requires Management to Estimate