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7. Describe an example that demonstrates the riskiness of new product development, 3 mark 8. Why is product development a long and expensive process? 3

7. Describe an example that demonstrates the riskiness of new product development, 3 mark 8. Why is product development a long and expensive process? 3 marks 9. Briefly explain what occurs in each stage of the new product development process. 14 marks

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