How do organizations identify new-product ideas?
What will be an ideal response?
The starting point for an effective worldwide new-product program is an information system that seeks new-product ideas from all potentially useful sources and channels. Those ideas relevant to the company undergo screening at decision centers within the organization. There are many sources of new-product ideas, including customers, suppliers, competitors, company salespeople, distributors and agents, subsidiary executives, headquarters executives, documentary sources (for example, information service reports and publications), and, finally, actual firsthand observation of the market environment.
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Selectively seeking out information that supports your point of view refers to which thinking trap?
A) sunk costs B) confirming evidence C) framing D) anchoring
Generally, companies follow one of two broad strategies: offering a quality product at a low price, or offering a unique product or service priced higher than the competition. Is it possible to follow a strategy that is "in the middle"?
What will be an ideal response?