Occasionally,a Firm's Stage 1 Product Development Activities Can Be Blindsided

question 182

Multiple Choice

Occasionally,a firm's Stage 1 product development activities can be blindsided by a revolutionary new product or technology that completely disrupts its business,which is sometimes called a

• A)marketing opportunity.
• B)disruptive innovation.
• C)business threat.
• D)crowdsourcing.
• E)concept test.

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Definitions:

Repetitive Procedure

A method or operation that is carried out repeatedly to test the consistency and reliability of results.

Satisficing

A decision-making strategy that aims for a satisfactory or adequate solution, rather than the optimal one.

Availability Heuristic

A mental shortcut that relies on immediate examples that come to a person's mind when evaluating a specific topic, concept, method, or decision.

Representative Heuristic

A cognitive shortcut that involves judging the probability of an event by its resemblance to a prototype or typical example, potentially leading to biases in decision-making.