Regarding the Idea Generation Stage of the New-Product Development Process

question 253

Multiple Choice

Regarding the idea generation stage of the new-product development process, which of the following is TRUE?

• A) Business firms often get new product ideas from competitors.
• B) It is best to focus on only a few good ideas at this stage.
• C) Studying customers' ideas is not very helpful, since they tend to focus on minor technical changes in existing products.
• D) Most companies don't need a special procedure for seeking new product ideas because so many ideas are coming from so many different sources.
• E) None of the above is true.

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Definitions:

Confidence interval

An estimated range of values which is likely to include an unknown population parameter, based on the given data.

SAT scores

SAT scores are standardized test scores used for college admissions in the United States, assessing mathematical, verbal, and writing skills.

Confidence interval

An assortment of values, from sample-based statistics, that is speculated to contain the unseen population parameter value.

Population standard deviation

A measure of the dispersion or variability of a set of data points in a population, indicating how much the individual data points differ from the population mean.