In the context of the new-product development process,which of the following statements is true of the business analysis stage?
A)Depending on the nature of the product and the company, this process may be simple or complex.
B)Forecasting market share for a new entry in a new, fragmented, or relatively small niche market is easy.
C)The newness of the product, the size of the market, and the nature of the competition do not affect the accuracy of revenue projections.
D)Costs increase dramatically once a product idea enters the business analysis stage.

Question

In the context of the new-product development process,which of the following statements is true of the business analysis stage?
A)​Depending on the nature of the product and the company, this process may be simple or complex.
B)Forecasting market share for a new entry in a new, fragmented, or relatively small niche market is easy.
C)The newness of the product, the size of the market, and the nature of the competition do not affect the accuracy of revenue projections.
D)​Costs increase dramatically once a product idea enters the business analysis stage.

Quizplus · Accepted Answer

The business analysis stage can be simple or complex, depending on factors such as the nature of the product and the company. Therefore, statement A is true. B is false since forecasting market share for a new entry in a new, fragmented or relatively small niche market may be difficult. C is false because the newness of the product, the size of the market and the nature of the competition all affect the accuracy of revenue projections. D is false since costs do not necessarily increase dramatically once a product idea enters the business analysis stage.

In the Context of the New-Product Development Process,which of the Following