The development phase of the new product process involves the development of:
A) new product suggestions.
B) the marketing plan.
C) the product innovation charter.
D) the product financing plan.

Question

Quizplus · Accepted Answer

The development phase of the new product process involves developing the marketing plan for the new product. This includes identifying the target market, determining the product positioning, establishing the marketing budget, and creating a marketing mix that will effectively promote the product to consumers. The other options listed (new product suggestions, product innovation charter, and product financing plan) are relevant to other phases of the new product process, but not specifically to the development phase.

The Development Phase of the New Product Process Involves the Development