10 Questions
Product classification is based on the purpose for which they are bought: True or False?
True
New product development can only be for truly new products and not existing ones: True or False?
False
The process of new product development consists of 5 steps: True or False?
False
A product includes tangible and intangible attributes: True or False?
True
Consumer products are bought by businesses for consumption: True or False?
False
What are the two classifications of products mentioned in the text?
Consumer and Business
What are the elements of a product as mentioned in the text?
Tangible and intangible attributes, packaging, color, price, quality, brand name, manufacturer and retailer services
What is the meaning of a product according to the text?
A set of tangible and intangible attributes that provide want satisfaction
What are the reasons for new product development as mentioned in the text?
Various Reasons
What are the methods of new product development according to the text?
R&D and Acquisition
Test your knowledge of product development with this quiz covering product meaning, classification, new product development, reasons for development, methods of development, and the product development process. Whether you are a student or professional, this quiz will help reinforce your understanding of key concepts in product development.
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