Question

QUESTION 17

Members of a business development team work together to create a new hardware installation device. The team is worried that by the time the finished product hits the market, customers' needs might change and the device would become a failure. Which of the following risks does this scenario best exemplify?

		Strategic risk
		Market risk
		Credit risk
		Internal risk

QUESTION 18

Which of the following stages of the new product development process involves expanding viable ideas into full product concepts?

		Project planning
		Idea generation
		Product development
		Idea screening

Answer 1

Question 17 ) The correct answer is "Market risk"

Explanation:- Market risk refers to the fact that a new product may not meet a market demand that it was developed for as the customer requirements keep changing constantly and new technologies keep emerging. By the time a new product is developed and sent to the market, the customers may not require that product as their needs might change or a product with better technology may have been developed.

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Question 18)

The correct answer is " Idea screening"

Explanation:- In the idea screening stage of new product development, ideas for new products that are considered as non profitable are eliminated and those considered as viable are further developed so that new products can emerge out of those ideas. .