The stage of new product development in which potential customers are presented with a written or oral description of the product to determine their initial attitudes and buying intentions is called
A) concept testing.
B) screening.
C) test marketing.
D) business analysis.
E) commercialization.

Question

Quizplus · Accepted Answer

Concept testing is the stage in the new product development process where potential customers are presented with a written or oral description of the product to gauge their initial attitudes and buying intentions. This helps the company to determine whether the product has potential in the market or not, and to make necessary changes before proceeding to further stages. Screening is the preliminary stage in which ideas are evaluated to eliminate unsuitable ones. Test marketing involves launching the product in a limited market to test its performance. Business analysis involves evaluating the product's financial feasibility, while commercialization involves the final stage of launching the product into the market.

The Stage of New Product Development in Which Potential Customers