Which of the following is true about new product development?
A)It typically involves dramatic innovations that require extensive customer learning.
B)It requires an understanding of the customer base and involves creativity.
C)It works only when it involves long-term research and monitoring.
D)It involves less risk and ensures a high success rate.

Question

Quizplus · Accepted Answer

New product development involves understanding the customer base and requires creativity to meet their needs and wants. The other options are incorrect as new product development can involve incremental innovations, short-term research, and monitoring, and also involves a high risk and low success rate.

Which of the Following Is True About New Product Development