Question

Stacey and Evan are preparing budgets for a new product as well as finalizing plans for the full-scale marketing and manufacturing of the new Genie-Vac. They are in the ____ phase of the new-product development process.

a) test marketing
b) business analysis
c) concept testing
d) product development
e) commercialization

Answer 1

Stacey and Evan are in the commercialization phase, finalizing budgets, marketing, and manufacturing plans for the Genie-Vac. Therefore, option e) is correct.

Step-by-step explanation:

Stacey and Evan are in the commercialization phase of the new-product development process. In this stage, they are preparing budgets for the new product and finalizing plans for marketing and full-scale manufacturing. The commercialization phase is the culminating phase.

Where the detailed design developed from the initial concept is ready for market entry. This involves significant budget calculations and logistical planning for production and market introduction. It includes the development of market strategies, production plans, and sales projections.

Prior to this, the product would have undergone concept testing, business analysis, and the necessary product development stages including prototyping, testing, and refinement. They will develop a budget and gather information for the full-scale production and promotion of the Genie-Vac.