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.

Question

Quizplus · Accepted Answer

Business firms often get new product ideas from competitors. This is because competitors may be offering a product or service that is similar to what the firm offers, but there may be something missing or a way to improve upon it. By studying competitors' products and services, a company can identify areas for improvement and come up with new product ideas that address those needs.

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