Steve,a retired man,wants to open a day care facility for dogs with his savings.After deciding on the services that he would be providing to his customers,he calculates the preliminary figures for demand,cost,sales,and profitability.After extensive deliberation,Steve decides to take credit from the bank for opening the facility as the initial investment cost estimates are too high.Steve is currently at the _____ of the new-product development process.
A)commercialization stage
B)business analysis stage
C)idea generation stage
D)test marketing stage

Question

Steve,a retired man,wants to open a day care facility for dogs with his savings.After deciding on the services that he would be providing to his customers,he calculates the preliminary figures for demand,cost,sales,and profitability.After extensive deliberation,Steve decides to take credit from the bank for opening the facility as the initial investment cost estimates are too high.Steve is currently at the _____ of the new-product development process.
A)​commercialization stage
B)business analysis stage
C)idea generation stage
D)​test marketing stage

Quizplus · Accepted Answer

Steve is at the business analysis stage, where he has calculated the preliminary figures for demand, cost, sales, and profitability, and is exploring options for financing the venture. This stage involves evaluating the financial viability of the product or service and determining the investment required to launch it. The commercialization stage comes after the product has been developed and tested, and involves introducing it to the market. The idea generation stage is the beginning of the new-product development process, where new ideas are generated and evaluated. The test marketing stage involves testing the product in a small market to evaluate its performance and potential for success.

Steve,a Retired Man,wants to Open a Day Care Facility for Dogs