Red Sun Inc., an automobile manufacturer, developed a new car model. The firm worked on identifying the strengths and weaknesses of the new model, the costs that would be incurred in its manufacture, and its target markets. Which of the following steps of the innovation process was the firm involved in?

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Quizplus · Accepted Answer

The firm is involved in the assessing step of the innovation process, which involves evaluating the potential of the idea and identifying its strengths, weaknesses, costs, and target markets. The other steps are imagining (generating ideas), experimenting (testing and refining the idea), designing (developing a prototype), and scaling (commercializing and mass-producing the product).