Question

A fitness-equipment manufacturing company initiates its new product development process. The company's management and product-design team make estimated cost budgets for each of the potential products. This is an important part of the process as it helps the management assess whether the company can afford the new product. In the given scenario, the company is most likely in the _____ stage of the new product development process.

Answer 1

Answer:

Analysis stage.

Explanation:

Analysis stage of new product development process is defined as the stage where the business evaluates the viability of the product and how it will perform in the market. Market analysis is done to measure the success of the product when it is released.

Based on the information obtained a business will decide to produce a product of it is a profitable one.

In this scenario the fitness company's management and product-design team make estimated cost budgets for each of the potential products. This is an important part of the process as it helps the management assess whether the company can afford the new product.