Exam 4: The Product Concept and Ready-Made New Product Ideas

Which of the following would qualify as an outside source of ready-made new product concepts?

The objective of a firm using open innovation is to:

Identify the correct statement with regard to end users as a source of ready-made new product concepts.

Since creative people believe that group contributions are valuable, they are often quite impressed with group rewards.

Briefly describe the three inputs required in the creation process.

_____ refers to working with external partner firms to develop or obtain required technology or know-how and thereby speed up product innovation.

Under an open innovation policy, firms make a strategic commitment to use available knowledge in the external environment to improve innovation performance.

Discuss the barriers to firm creativity.

Which of the following can is an example of crowdsourcing?

Putting benefit last is very risky, since:

A new product only really comes into being during generation of its concept statement, irrespective of its success or failure in the market. FALSE

The product innovation process can start with any one of the three dimensions of technology, form, and benefits and can vary in what happens second.

In the context of obtaining product ideas, open idea solicitation is known as:

Rex is the general manager of the New Way Hotel. Whenever an employee comes up to Rex with a new idea, he listens patiently, cites all of the advantages of the new idea and then addresses the negatives, but only in a constructive mode. Identify the technique being used by Rex to encourage creativity.

_____ are those customers that are sought by a firm for eliciting new product ideas, since they have been associated with a significant current trend.

One of the reasons why technology-driven scientists, in most cases, actually put benefit before form and technology in the creation process is that:

Discuss the advantages and risks of open innovation.

Concept generation must be a(n) _____ process.

A product _____ statement is a claim of proposed customer value and takes the form of a verbal and/or prototype expression that describes need, form, and technology (at Least two of these), and how the customer stands to gain (and lose).

By definition, new product teams are _____, which means a greater variety of perspectives but also potential difficulties in reaching a solution acceptable to all.