Steve,a retiree,wants to use his savings to open a day care facility for dogs.After deciding on the services that he would provide to his customers,he calculates costs versus the demand and the profit he could make depending on the volume of sales.After extensive deliberation,Steve decides to take a bank loan because the needed initial investment is too high for opening the facility.Steve is currently in the _____ stage of the new-product development process.
A) commercialization
B) business analysis
C) idea generation
D) test marketing

Question

Quizplus · Accepted Answer

Steve is in the business analysis stage, where he evaluates the costs, demand, and potential profitability of the new venture.

Steve,a Retiree,wants to Use His Savings to Open a Day