GK
MARKETING MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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At which stage of new product development process, the launching of New Product will take place?
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Test Marketing
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Business Analysis
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Commercialization
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Marketing Strategy Development
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Explanation:
Detailed explanation-1: -Commercialization: The final step of the product development process is that of commercialization. Based on the information gathered during the test marketing process, the business management may either go ahead with the product launch or put it on the backburner.
Detailed explanation-2: -Stage 8: Commercialization. In this stage, the company launches the product, complete with full-scale production, distribution, advertising, and sales promotion. The cost of launching a new product varies depending on the product itself, the industry, and the competition.
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