The new-product development process
A) should have ongoing support from top management.
B) should avoid applying quantitative screening criteria--since applying such criteria tends to eliminate most of the "really new" ideas.
C) should be informal--to encourage creativity.
D) should start whenever the majority of current products are in the market maturity stage of the product life cycle.
E) All of the above are correct.

Question

Quizplus · Accepted Answer

Ongoing support from top management is crucial to ensure resources and attention are given to the new-product development process. The other options presented are incorrect. Applying quantitative screening criteria is important to ensure that the ideas selected have the greatest potential for success. An informal process may lead to creativity, but it also increases the risk of overlooking important factors such as market research and financial feasibility. Finally, the timing of the new-product development process should not be dictated by the stage of the product life cycle of current products, but rather by opportunities in the market and customer needs.

The New-Product Development Process