As the founders of Microsoft Corporation, Bill Gates and Paul Allen knew that the success of any company depends on the development of new and exciting products for customers. Which of the following is correct regarding the development of new products?
a. In the test marketing phase, the organization completes plans for full-scale manufacturing and marketing and prepares budgets.
b. Adaptations are products designed to compete with existing products of other companies.
c. Imitations are variations of existing products that are intended for an established market.
d. Innovations are entirely new products.