Which of the following statements is most likely true about the new product development process?

A. The first step in developing a new product involves determining any budgetary or distribution limitations.

B. Most firms discourage employees from contributing new product ideas because of legal concerns.

C. In most cases, concept testing is followed by concept development.

D. A product concept should be developed for each idea before it goes through idea screening.

E. Customers, competitors, and suppliers are major sources of new product ideas.

Question

Dominique Joyce

Business

22 July, 19:20

Which of the following statements is most likely true about the new product development process?

A. The first step in developing a new product involves determining any budgetary or distribution limitations.

B. Most firms discourage employees from contributing new product ideas because of legal concerns.

C. In most cases, concept testing is followed by concept development.

D. A product concept should be developed for each idea before it goes through idea screening.

E. Customers, competitors, and suppliers are major sources of new product ideas.

+3

Answers (1)

Know the Answer?

Kallie Key · Answer 1

E. Customers, competitors, and suppliers are major sources of new product ideas.

Explanation:

The new product development is a process of beginning of the original product idea and although it differs from industry to industry and can be essential brown down into the five stages of the research as the planning and the prototyping and sourcing and the costing. The idea of construction and idea screening and concept development and marketing strategy and includes the product analysis as the source of the new product development.