The new-product development process discussed in the text
A) is based on the idea that a firm should eliminate potentially unprofitable product ideas as early as possible.
B) seeks to take as many ideas to market as possible, hoping to find a breakthrough opportunity.
C) relies solely on test marketing to decide whether to drop an idea or take it to market.
D) is especially important since it increases the number of new product ideas that get to the commercialization stage.
E) None of the above is true.

Question

Quizplus · Accepted Answer

The new-product development process discussed in the text is based on the idea that a firm should eliminate potentially unprofitable product ideas as early as possible. The process involves various stages of idea generation, screening, concept development and testing, market strategy development, business analysis, product development, test marketing, and commercialization. The main goal is to weed out unprofitable ideas and focus on those with the highest potential for success.

The New-Product Development Process Discussed in the Text