Big companies hires many researchers to conduct study on new product opportunities. The researcher studies people life style, purchasing behaviors and how they used products or gadgets. Thousands of new product opportunities are identified and explored during the study. However only a few opportunity or ideas selected for evaluation, assessment and subsequent product development process.

1. Discuss TWO (2) business factors justifying why only a small quantity of new opportunities selected for subsequent product development process out of many new product opportunities identified and explored.
2. (b)        Produce TWO (2) benefits of successful customer needs identification process

Answer rating: 100% (QA)

1 1 The cost of developing a new product is high and companies want to minimize the risk of failure ... View the full answer