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

question 76

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 these alternatives is true.

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Definitions:

Common Resource

A resource that is nonexcludable and rival in consumption.

Super Bowl

The annual championship game of the National Football League (NFL), watched by millions worldwide.

Public Park

An area of natural, semi-natural, or planted space set aside for human enjoyment and recreation or for the protection of wildlife or natural habitats.

Nonexcludable

Referring to a good, describes the case in which the supplier cannot prevent those who do not pay from consuming the good.