A firm's new product development process should
A) maximize the likelihood of projects being both technically and commercially successful.
B) eliminate the firm's exposure to risk.
C) utilize technology currently available within the organization, thereby reducing expenses.
D) be patented irrespective of the success of the product.

Question

Quizplus · Accepted Answer

The new product development process should aim to maximize the likelihood of projects being both technically and commercially successful. This involves considering the technical feasibility of the product as well as its potential market demand and profitability. This approach helps to minimize the risk of failure and maximize the return on investment. The other options, eliminating risk, relying solely on existing technology, and patenting irrespective of success, do not prioritize the goal of maximizing success and profitability, and can lead to missed opportunities for innovation and growth.

A Firm's New Product Development Process Should