New-product development time is the time taken by companies to ________.
A) test the prototype and start the large scale production of a product
B) design and develop the prototype product
C) create new products and bring them to market
D) improvise existing products and re-launch them to market

Question

Quizplus · Accepted Answer

New-product development time is the time taken by companies to create new products and bring them to market. It involves the entire process of researching, designing, testing, and launching a new product to meet the needs or wants of customers. Option A refers to the production phase, which comes after new-product development. Option B refers only to the design and development phase. Option D refers to product improvement and relaunch, which is different from developing entirely new products. Therefore, option C is the best choice.

New-Product Development Time Is the Time Taken by Companies to ________