Which of the following statements about the new-product development process is True?
A) The most common omission in the process is the business analysis stage.
B) The prototype development stage is more expensive than the market test stage.
C) The external environment has no effect on the new-product development process.
D) There are only four stages in the development of a new service.
E) None of the above statements about the new-product development process is True.

Question

Quizplus · Accepted Answer

The statements provided contain inaccuracies regarding the new-product development process: A) Business analysis is a critical stage and not commonly omitted; B) Prototype development can vary in cost, but market testing often involves broader expenses including production, marketing, and distribution costs; C) The external environment significantly affects the new-product development process, influencing factors like market needs and regulatory requirements; D) The development of a new service typically involves more than just four stages, including idea generation, screening, concept development, business analysis, prototype development, market testing, and commercialization.

Which of the Following Statements About the New-Product Development Process