The _____, a strategy for new products, ensures that the new product team develops products that are in line with firm objectives and strategies and that address marketplace opportunities.
A) product prototype
B) product portfolio
C) product framework
D) product innovation charter

Question

Quizplus · Accepted Answer

The product innovation charter (PIC) is a strategy for developing new products that ensures the product team stays aligned with the firm's objectives and strategies, while also addressing market opportunities. The PIC outlines the scope and objectives of the project, including target market segments, customer needs, and benefits to the company. It helps to ensure that the resources invested in the new product development process are well spent and that the resulting products are more likely to be successful in the marketplace.

The _____, a Strategy for New Products, Ensures That the New