Jacob has developed a detailed description of a new product as well as an illustration, and he has asked a small sample of customers to read the product description and give feedback. With this step completed, Jacob is now examining whether this new product will fit well with the company's current product mix, whether demand is high enough to begin developing the product, and whether the product is likely to increase the firm's profitability. Jacob is most likely in the ______________ stage of the product development process.
A)idea generation
B)screening
C)concept testing
D)business analysis
E)product development

Question

Quizplus · Accepted Answer

Jacob is conducting a business analysis to determine whether the new product will be profitable and fit well with the company's current product mix. The business analysis stage involves assessing the feasibility of the product in terms of its profitability and alignment with the company's strategy.

Jacob Has Developed a Detailed Description of a New Product