_____ is the development of original products, product improvements, product modifications, and new brands through the firm’s own R&D efforts.

Related MCQs

• _____ is a new-product development approach in which one company department works to complete its stage of the process before passing the new product along to the next department and stage.
• During which stage of new-product development is management most likely to estimate minimum and maximum sales to assess the range of risk in launching a new product?
• All of the following statements are accurate descriptions of the simultaneous product development approach to new product development, except which one?
• In the _____ of new-product development, often products undergo rigorous tests to make sure that they perform safely and effectively or that consumers will find value in them.
• In the ________ stage of new-product development, products often undergo rigorous tests to make sure that they perform safely and effectively or that consumers will find value in them.
• In the product concept stage of new-product development, the product is merely a _____.
• ____ begins when the company finds and develops a new-product idea. During product development, sales are zero and the company's investment costs mount.
• _____ is the stage of new-product development in which the product and marketing program are tested in more realistic market settings.
• The team-based new-product development approach is faster because departments work closely together through _______.
• In the concept testing stage of new-product development, a product concept in ________ form is presented to groups of target consumers.