Chapter 1

Intuition has no place in the scientific process of new product- False
Major obstacle of innovation is fear of change and certainty it brings- True
Strategy and the identification is the first stage- True

Basic task of a business is consumer satisfaction / profit
Newness of a product is determined by consumer
Product includes: All of the above

Short Answer:
1) What is a new product and who decides if a product is new?
a.Good or service that is perceived b the target market as different and better than others- the consumer decides if the product is new. When the product has sold enough, made enough profit, established a strong toehold in a new market, and effectively thwarted a particular competitor.

Chapter 2

New product development process ends at the evaluation process- True
Best ideation comes from identifying problems for business and consumers - True
Comprehensive business analysis emphasizes profitability- True
Benchmarking as guidelines –......

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Title: New Products
Approximate Word Count: 908
Approximate Pages: 4 (250 words per double-spaced page)

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