Grayson Labs follows an approach where company departments work closely together in cross-functional teams, overlapping the steps in the product development process to save time and increase effectiveness. The company creates a group of people from various departments (such as marketing, finance and design) that stays with the new product from start to finish. Which new product development approach is Grayson Labs using?

a.

Customer-centred new product development

b.

Individualized product development

c.

Innovative new product development

d.

Holistic new product development

e.

Team-based new product development