Which of the following statements is most likely true about the new product development process?
A) The first step in developing a new product involves determining any budgetary or distribution limitations.
B) Most firms discourage employees from contributing new product ideas because of legal concerns.
C) In most cases, concept testing is followed by concept development.
D) A product concept should be developed for each idea before it goes through idea screening.
E) Customers, competitors, distributors, and suppliers are major sources of new product ideas.

Question

Quizplus · Accepted Answer

Customers, competitors, distributors, and suppliers are major sources of new product ideas. This is because they have direct or indirect experience with the products and can provide valuable feedback on what is missing or what could be improved. The other statements are either inaccurate or do not accurately represent the new product development process.

Which of the Following Statements Is Most Likely True About