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MKTG 3340 Orosy SMU Exam 2 (2 part) Questions With Complete Solutions

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How does idea generation play a role in the new product development process correct answer: it is stage 2 in the new product development process the new product development process stages correct answer: 1. new product strategy development 2. idea generation 3. screening and evaluation 4. business analysis 5. development 6. market testing 7. commercialization defines the role of new products in terms of the firm's overall objectives. This stage utilizes SWOT and environmental scanning to determine opportunities to exploit in the marketplace. correct answer: New Product Strategy Development: systematic search/the development of a pool of ideas and concepts that are candidates for new products correct answer: Idea Generation: What are the sources of new product ideas? correct answer: internal and external company's own formal research and development, management and staff, and intrapreneurial programs. correct answer: internal sources sources outside the company such as customers, competitors, distributors, suppliers, and outside design f

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Uploaded on
June 30, 2023
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