The Manager at an Engine Manufacturer Has Asked a Venture

question 120

Multiple Choice

The manager at an engine manufacturer has asked a venture team to develop a more improved version of its most popular engine. Currently, the members of the venture team are brainstorming ways to improve the engine so that it better serves its target market. It decides to send customers surveys asking them what features they would like to see in a new engine. The venture team is most likely in the _________________ stage of product development.

• A) test marketing
• B) business analysis
• C) concept testing
• D) idea generation
• E) screening

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Definitions:

Debt

Money that is owed or due to be paid by one party (the borrower) to another (the lender); often involves repayment with interest.

Intellectual Property

Intangible creations of the human intellect that are accorded legal rights of ownership and use.

Inventor

An individual who creates a new product or process through innovative thinking and experimentation.

Patent

A patent is a legal right granted to an inventor, giving them exclusive rights to produce, use, and sell their invention for a certain period.