Question

The new-product process starts with new-product strategy development. Place the steps that follow this one in order. (In other words, order steps 2 through 7, with the second step at the top.
1. New-product strategy development.
2. Idea generation.
3. Screening and evaluation.
4. Business analysis.
5. Development.
6. Market testing.
7. Commercialization.

Answer 1

Answer:

1. New-product strategy development.

2. Idea generation.

3. Screening and evaluation.

4. Business analysis.

5. Development.

6. Market testing.

7. Commercialization.

Explanation:

New product strategy is the first one as described and the remaining are briefed below:

Idea Generation: This steps creates the idea for how the product shall be created.

Screening and evaluation: This helps in evaluating the idea generated and comparing it with the practical manner.

Business Analysis aims at analyzing the business prospect of the new product.

Development is done once all of the above steps are in affirmation.

Market testing is done after the development about the market captured by the product or to be captured.

Commercialization basically aims at the proper introduction of the product in the market.