Which of the Following Idea Generation Methods Saves the High

question 73

Multiple Choice

Which of the following idea generation methods saves the high costs of in-house research and development for a firm?

• A)brainstorming
• B)licensing
• C)customer inputs
• D)reverse engineering
• E)market research

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Definitions:

Situational Analysis

The process of identifying internal and external factors affecting a business’s performance, used to inform strategy development.

Competing Products

Goods or services that are offered in the same market by different companies and serve as alternatives to each other.

Organic Foods Market

A sector of the food industry that deals with products produced via farming practices which aim to promote ecological balance and conserve biodiversity, avoiding most synthetic pesticides and fertilizers.

Market Segment

A distinct group of potential consumers who share similar needs, desires, and characteristics, targeted by businesses for marketing campaigns.