Product Development

Which entrepreneurial mind conceptualizes and designs a product that consumers find some use for?

• Technical mind

• Creative mind

• Business mind

• None of these

In this entrepreneurial mind, entrepreneurs uses old knowledge for new applications in various fields of human endeavor.

• Technical mind

• Creative mind

• Business mind

• None of this

Which entrepreneurial mind organizes sufficient forces and resources to develop, launch, and commercialize the new product in order to maximize its market value?

• Technical mind

• Creative mind

• Business mind

• None of these

In order to convert the product concept into a viable product, the _______________ must intervene to provide the quality and performance specifications through technology.

• Technical mind

• Creative mind

• Business mind

• None of these

In this part of the new improved product, the entrepreneurs consulted experts and read the literatures,

• Establishment of Specifications for the Product

• Preliminary Testing

• Standardization of the Production Process

• Product Launch and the Business Mind

This work process allowed the entrepreneurs to become more efficient in converting the production input into production output by designing a good transformation process.

• Establishment of Specifications for the Product

• Preliminary Testing

• Standardization of the Production Process

• Product Launch and the Business Mind

It also produces a product that creates emotional attachment and eventually becomes a significant personal expression of the consumer.

• Technical mind

• Creative mind

• Business mind

• Open mind

It manages the external and internal business environment of the new product, which goes beyond the product development process itself.

• Technical mind

• Creative mind

• Business mind

• Open mind

This part of product development should determine the exact conditions for the product based on the raw material.

• Preliminary Testing

• Standardization of the Production Process

• Establishment of Specifications for the Product

Which part of product development involved the standardization of the entire products or services?

• Establishment of Specifications for the Product

• Standardization of the Production Process

• Preliminary Testing

• None of these.