QUESTION (2): (4 Marks) Most new product developments New Product Development Stages follow a similar series of phases. 1 New Idea Generation 5 Business Analysis Your task in is to simply match the 2 Idea Screening 6 Product Development phase to its appropriate definition. 3 Concept Development 7 Test Marketing (Note: Write the number only for each 4 Concept Testing 8 Commercialization stage you select) Match the Term (Insert number from above table) Simple definition/description A quick evaluation of whether the potential new product is worth developing. A financial analysis of the potential return of the product for the firm. Research with consumers on their reaction to the potential new product Using creative or analytical techniques to identify potential new products. Launching the product in one region only, to determine likely sales success Actually making the new product and creating the manufacturing and delivery machinery/system. A detailed strategy or blueprint version of the potential new product Launching the product in all regions and making it widely available