Question

Business analysis is the step in the new-product development process in which:

A. The new product is manufactured
B. The marketing mix is finalized
C. The product is introduced to the foreign market
D. All of the above

Answer 1

Business analysis is the step in the new-product development process where the marketing mix is finalized. This step involves conducting a thorough analysis of the market to understand customer needs, preferences, and the competitive landscape. Based on this analysis, the marketing mix, which includes the product, price, promotion, and place (distribution), is determined to ensure the new product's success in the market.

Step-by-step explanation:

Business analysis is the step in the new-product development process where the marketing mix is finalized. This step involves conducting a thorough analysis of the market to understand customer needs, preferences, and the competitive landscape. Based on this analysis, the marketing mix, which includes the product, price, promotion, and place (distribution), is determined to ensure the new product's success in the market.