The 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 of the new product process that involves analyzing the potential profitability and financial feasibility of the product. This includes specifying the features of the product, identifying the target market, and estimating the costs involved in production and marketing. The result of this stage is a business plan that outlines the marketing strategy and financial projections for the product. Therefore, option B is the correct answer.

The Stage of the New Product Process That Specifies the Features