In the idea screening phase of new product development,a firm finds that it lacks the resources and expertise necessary to produce the product.Which of the following is the best course of action for the firm?
A) It should consider the strategy of selling its existing products at lower prices.
B) It should stop wasting time, manpower, and funds on new product development.
C) It should quickly discount the new product idea.
D) It should consider forming joint or strategic alliances with other firms.

Question

Quizplus · Accepted Answer

When evaluating risks in the idea screening phase, firms should not act too hastily in discounting new product ideas solely because of a lack of resources or expertise. Instead, firms should consider forming joint or strategic alliances with other firms.

In the Idea Screening Phase of New Product Development,a Firm