In which of the following stages of the new product development process is a development budget established and some preliminary marketing and technical research undertaken?
A)Idea generation
B)Project planning
C)Test marketing
D)Commercialization

Question

Quizplus · Accepted Answer

The stage in which a development budget is established and preliminary marketing and technical research is undertaken is the project planning stage of the new product development process. In this stage, the objectives of the project are determined, market and technical feasibility are examined, a preliminary marketing strategy is developed, and a development budget is established. Therefore, the best choice is B.

In Which of the Following Stages of the New Product