Which of the following is a feature of a new-product strategy?
a. It traces all stages of a product's acceptance, from its introduction to its decline.
b. It provides general guidelines for generating, screening, and evaluating new-product ideas.
c. It increases the time spent by a product in the introduction stage of its life cycle.
d. It gives greater importance to highly structured development process rather than simultaneous development.
ANSWER: b
A new-product strategy sharpens the focus and provides general guidelines for generating, screening, and evaluating new-product ideas. It is part of an organization's overall marketing strategy.
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