In which stage in the new-product process would a firm use both a SWOT analysis and environmental scanning to assess its strengths and weaknesses relative to the trends it identifies as opportunities or threats?
A)idea generation
B)screening and evaluation
C)new-product strategy development
D)business analysis
E)development

Question

Quizplus · Accepted Answer

In the new-product strategy development stage, a firm assesses its strengths and weaknesses relative to the opportunities or threats identified through environmental scanning. A SWOT analysis is one tool used to identify these strengths and weaknesses. Therefore, C is the best choice as it covers both SWOT analysis and environmental scanning.

In Which Stage in the New-Product Process Would a Firm