Idea Generation Is the Stage in the New-Product Development Process

question 268

Multiple Choice

Idea generation is the stage in the new-product development process in which the firm

• A) develops a pool of concepts to serve as candidates for new products.
• B) selects a single concept and scrutinizes it for all potential benefits and flaws.
• C) separates ideas into two categories: consumer-oriented and organization-oriented.
• D) performs a SWOT analysis and an environmental scan.
• E) uses a variety of techniques to screen and reject those ideas that have no merit.

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Definitions:

Warranty of Title

A legal guarantee provided by a seller to a buyer that the seller has the right to transfer ownership and no hidden liens or encumbrances exist.

Risk of Loss

The financial risk borne by a party in the event that goods are lost, damaged, or destroyed during transportation or storage.

Sale or Return

A sales agreement allowing the buyer to return unsold goods to the seller without obligation within a specified period.

On Approval

"On approval" is a transaction condition allowing a buyer to take possession of goods before deciding to complete the purchase, subject to the goods’ return if not satisfied.