Idea Generation Refers to

question 93

Multiple Choice

Idea generation refers to

• A)the stage of the new-product process when concepts are converted to prototypes.
• B)the stage of the new-product process that develops a pool of concepts as candidates for new-products.
• C)the stage of the new-product process where possible promotional campaigns and advertising themes are generated.
• D)information collected through extensive market research that contains raw data but that has not yet been analyzed for results.
• E)the discussion and decision of which market segments will be selected as target markets.

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Definitions:

Framing Bias

A cognitive bias where people react differently to a particular choice depending on how it is presented, such as a loss or gain.

Risk-Averse

A tendency to avoid taking risks, preferring safer or more predictable outcomes over uncertainty.

Risk-Seeking

characterizes the tendency of an individual or entity to take decisions that have a significant level of uncertainty or potential for negative outcomes in the hope of achieving higher gains.

Risk Technique

Methods or strategies used to identify, assess, and manage potential risks in a project or process to minimize negative outcomes.