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Which of the following statements best describes simultaneous product development?

It is a strategy that provides general guidelines for generating, screening, and evaluating new product ideas.

It is used to determine the reactions of potential customers in a market situation.

It is the process where all the involved areas work together rather than sequentially during a product's development.

It is a strategy that links the new product development process with the objectives of the marketing department, the business unit, and the corporation.

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Nutrioats, an oatmeal cookie product, has been in the market for over seven years. However, the product is now in its decline stage. In this case, which of the following will be a successful strategy to marketNutrioats?

Lengthening the product line

Focusing on adding new users

Spending heavily on advertising to educate consumers about the product's benefits

Eliminating all nonessential marketing expenses and letting sales decline

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FresnasInc. manufactures and sells electronic equipment. The research and development team has generated ideas for new products, and the ideas pass through the screening stage. In this case, the goal of screening will be to:

calculate preliminary figures for demand, cost, sales, and profitability.

eliminate ideas that are inconsistent with the organization's new product strategy.

filter various prototypes of the products, and select the most efficient one.

set a limit on the number of members allowed to evaluate the new product ideas