Question

Which phase of the new product development process involves identifying the target​ market, estimating its​ size, and determining how the company can effectively position the product to address the target​ market's needs? A. Product concept development and screening B. Idea generation C. Marketing strategy development D. Test marketing E. Commercialization

Answer 1

Answer: Marketing strategy development

Explanation:

Marketing strategy development is essential to develop a brand. Strong marketing strategies are vital for industry dominance. A marketing strategy is more than just advertising the product. A connection, display of need of the good and its value is essential to get the right audience.

Marketing strategies provides small business with direction essential for effective promotion.

Marketing strategies is different for businesses, the main thing is tailoring it to what the company needs. Marketing strategy should involve a set of clear goals, and consumer research.