Which of the following is the fourth stage of product and service development?

• A. Consider Customer Needs
• B. Concept screening
• C. Time-to-market
• D. Product Testing

Answer: (C)

The main idea here is the sequence of moving a product from idea to customers. After you’ve identified what customers need and idea concepts that could meet those needs, and after you’ve screened and tested those concepts to ensure they’re viable and workable, the next step is getting it to market. Time-to-market focuses on finalizing production capacity, distribution, pricing, and the launch plan, so the product can be introduced to customers efficiently and successfully. This is why it’s the fourth stage: it precedes only the actual market introduction and execution of the launch, rather than the earlier steps of understanding needs, screening ideas, or testing the product.