Question

Opportunity recognition, feasibility, and prototype development are elements of

a. the industry life cycle.
b. the product development cycle.
c. the trademark process.
d. a new product checklist.

Answer 1

Opportunity recognition, feasibility, and prototype development are integral parts of the product development cycle.

Step-by-step explanation:

The elements of opportunity recognition, feasibility, and prototype development are part of the product development cycle. In this cycle, new product ideas are identified, evaluated for their feasibility, and then developed into prototypes for testing and refinement. These steps are crucial in bringing new products to market. For example, a company may recognize an opportunity for a new smartphone app, assess its feasibility in terms of technical capabilities and market demand, and then create a prototype to test its functionality and user experience.