S3/S4 BM Product Development

Which department is primarily responsible for idea generation in product development?

• Operations

• Sales

• Research and Development

• Human Resources

What does USP stand for in the context of product development?

• Unique Selling Point

• Universal Sales Plan

• United Service Product

• Unilateral Selling Point

What is a prototype?

• A final version of a product

• A marketing strategy

• The first working model of a product

• A type of patent

Why are modifications made to a product after seeing the prototype?

• To increase production costs

• To improve the product

• To reduce the product's lifespan

• To make it more complex

What is the purpose of registering a product for a patent?

• To increase the product's price

• To protect the design from imitation

• To make the product more attractive

• To reduce production time

What is the final step in the product development process?

• Idea generation

• Prototype testing

• Launch to market

• Patent registration

What role does market research play in product development?

• It helps identify customer needs

• It determines the product's price

• It designs the product's packaging

• It selects the product's colour

Which of the following is NOT a step in the product development process?

• Idea generation

• Quality control

• Prototypes and testing

• Modifications

The steps of product development:

• Idea generation

• Development of idea

• Prototypes and testing

• Modifications (perhaps Patents)

• Launch to market

Something that makes the business stand out against their competitors is called a: