The New Product Development Process Starts with the Search for Ideas

question 56

Essay

The new product development process starts with the search for ideas. New-product ideas can come from interacting with various groups and using creativity-generating techniques. List these techniques.

---

Definitions:

Industry Classification

A system for categorizing companies and stocks based on their primary business activities.

Du Pont Identity

A financial analysis formula that breaks down return on equity into three components: profit margin, asset turnover, and financial leverage.

Operating Efficiency

A measure of the effectiveness and productivity with which a business or organization operates, often relating to how well it utilizes its resources.

Asset Use Efficiency

How effectively a company utilizes its assets to generate revenue.