18.Introducing a new product into the market is called as: A. Test marketing B. New product development C. Experimenting D. Commercialization
Question
18.Introducing a new product into the market is called as: A. Test marketing B. New product development C. Experimenting D. Commercialization
Solution
Introducing a new product into the market is called as: D. Commercialization.
Here's why:
A. Test marketing is a phase in the product development process where a product is introduced to a limited market to see how it will perform. It's not the actual introduction of the product to the wider market.
B. New product development is the overall process of bringing a new product to market, which includes many stages like idea generation, concept development, product design, test marketing, and commercialization.
C. Experimenting is a broad term that could refer to many things in business and marketing, but it's not specifically the term for introducing a new product to the market.
D. Commercialization is the correct answer. This is the term for the process of introducing a new product or production method into the market. It's the final stage of new product development, where the product is fully developed and ready to be sold to consumers.
Similar Questions
The ______________________ stage of the new product development process can provide a good indication of how the product will be received when it is in the market.Group of answer choicesTest marketingControlled test marketingSimulated test marketingNone of these
The final stage of the new product development process is?Group of answer choicesCommercialisationBusiness analysisProduct developmentTest marketing
What is the purpose of test marketing in the new product development process?Select one:a.To gather feedback from potential customers and make necessary product modificationsb.To introduce the product to the market on a limited scale and generate immediate salesc.To assess the long-term profitability of the new productd.To determine the pricing strategy for the new productClear my choice
The product development strategy incorporates a Blank______ product or service to a firm's Blank______ target market.Multiple choice question.new; newnew; currentcurrent; currentcurrent; new
'Market-development strategy' is used to gain market share*1 pointA. current products in new marketB. new products for new marketsC. new products in new marketD. current product in current market
Upgrade your grade with Knowee
Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.