 Show 26. All of the following are accurate descriptions of ways companies are anxious to learn how to improve the odds of new-product success, except which one? A. Find out what successful new products have in common. B. To learn lessons from new product failures. C. Companies have to learn to understand their own consumers. D. Do not overly rely on product innovation when you can succeed by copying others. D.Do not overly rely on product innovation when you can succeed by copying others. 27. New-product development starts with _____. A. idea screening B. idea generation C. concept development and testing D. marketing strategy development B.idea generation 28. _____ is the systematic search for new-product ideas. A. Idea generation B. Idea screening C. Concept development and testing D. Marketing strategy development Recommended textbook solutions
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Mathematics with Business Applications6th EditionMcGraw-Hill Education 3,760 solutions Business Math17th EditionMary Hansen 3,684 solutions Fundamentals of Financial Management, Concise Edition10th EditionEugene F. Brigham, Joel Houston 777 solutions 10.All of the following are accurate descriptions of new product ideas, exceptwhichone?a.New product development starts with idea generation.b.Some companies use brainstorming exercises that expand people's mindsand generate new ideas around the client's problem.c.At the beginning of the process, carefully scrutinize each idea and throwfar-fetched and impractical ones out the window.d.Customers must be careful not to rely too heavily on customer input whendeveloping new products.Answer: (c) Difficulty: (3) Pages: 268-26911.Some companies have installed a(n) _____ that directs the flow of new ideas to acentral point where they can be collected, reviewed, and evaluated.a.new-product development teamb.idea management systemc.computer systemd.satellite systemAnswer: (b) Difficulty: (3) Page: 26912.In order to install anidea management system, whereby all ideas are directed to acentral point, a company can do any or all of the following:a.Appoint a respected senior person to be the firm's idea manager.b.Create a cross-functional idea management committee comprising ofpeople form R&D, finance, engineering and operations to meet andevaluate new product ideas.c.Reward employees through formal recognition programs.d.All of the above are legitimate ways to systematically collect ideas.Answer: (d) Difficulty: (3) Page: 26913.The purpose of _____ is to generate a large number of ideas.a.idea screeningb.idea generationc.concept development and testingd.marketing strategy developmentAnswer: (b) Difficulty: (2) Page: 27014.The first idea reducing stage is _____ , which helps spot good ideas and drop poorones as soon as possible.a.idea generationb.idea screeningc.concept development and testingd.marketing strategy developmentAnswer: (b) Difficulty: (2) Page: 270250 What are the major internal sources of new product ideas?Internal ideas are generated through product team brainstorming, external ideas usually come from communication with suppliers, customers and competitors, and idea generation exercises.
What are 3 sources of new product ideas?Here we present the most common sources for new product and service ideas:. 1) Information from Customers.. 2) Information from Distributor.. 3) Competitor Analysis.. 4) Exhibition.. 5) Publications, Journal.. 6) Universities, private Institutions.. 7) Patents.. Which of the following is not an internal source of product ideas?ANSWER:) Consumer is not a source of idea generation.
Which of the following is an internal source of product information for a customer?Customer lists and sales analysis reports are some of the most common internal data sources that businesses use for marketing purposes, but an inventory analysis, production reports or cost analyses might be even more powerful if paired with customer information.
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All of the following are major internal sources of new-product ideas, except which one?
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