Gary is involved in a new product development process and produces a report which contains a statement of the target market; the planned value proposition and a set of sales, profit and market share goals for the first 10 years following commercialisation. Gary is involved in which stage of the new product development process?
A) concept development
B) business analysis
C) product development
D) market strategy development
E) test marketing

Question

Quizplus · Accepted Answer

Market strategy development involves defining the target market, value proposition, and setting sales, profit, and market share goals, which matches the activities described in the scenario.

Gary Is Involved in a New Product Development Process and Produces