According to the Product Development Management Association,new product development (NPD)includes ______.
A)commercialization of a product
B)product life cycle management
C)replacement of product at the end of the introduction phase
D)refurbishment of returned products

Question

Quizplus · Accepted Answer

The Product Development Management Association defines new product development (NPD) as the complete process of bringing a new product or service to market, from idea generation to commercialization. Thus, option A, commercialization of a product, is included in NPD. Option B, product life cycle management, is a broader term that encompasses various stages of a product, from introduction to decline. Option C, replacement of product at the end of the introduction phase, refers specifically to the end of the introduction phase and is not a part of the entire NPD process. Option D, refurbishment of returned products, refers to a post-sales process and is not a part of the initial NPD process.

According to the Product Development Management Association,new Product Development (NPD)includes