stage of the new product process that specifies the features of the product and the marketing strategy needed to bring it to market and make financial projections is referred to as
A) idea generation.
B) business analysis.
C) marketing analysis.
D) product development.
E) commercialization.

Question

Quizplus · Accepted Answer

Business analysis is the stage in the new product process where the potential profitability of the product is evaluated by analyzing the cost of development, manufacturing, marketing, and distribution. Financial projections are also made during this stage. This stage comes after idea generation and before product development. Marketing analysis (option C) is part of the business analysis stage and involves understanding the target market and competition. Product development (option D) comes after the business analysis stage and involves the actual creation and testing of the product. Commercialization (option E) is the final stage in the new product process where the product is launched into the market.

Stage of the New Product Process That Specifies the Features