What is idea generation in the new-product process? From where do forward thinking marketers get their ideas?
What will be an ideal response?
Idea generation is the second stage of the new-product process that develops a pool of concepts as candidates for new products, building upon the previous stage's results. Many forward-looking companies have discovered their own organization is not generating enough useful new-products ideas. This has led to open innovation, in which an organization finds and executes creative new-product ideas by developing strategic relationships with outside individuals and organizations. New-product ideas are generated from employees, co-workers, customers, suppliers, "crowdsourcing," basic R&D and professional R&D labs, competitors' products, smaller, nontraditional firms, universities, and inventors.
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Which of the following is true of an LLC (limited liability company) formation?
A) Doctors and lawyers cannot operate practices as LLCs. B) An LLC has to be organized in every state that it operates. C) "LC" cannot be used to denote an LLC. D) An LLC is a creation of federal law.
Greenbelt Construction has been a successful small home-building firm for years. The owner pays subcontractors slightly more than the usual rate for different tasks, reducing the company's gross margin. Greenbelt rarely changes subcontractors, has relatively few complaints from home buyers, and is able to get quick responses from subcontractors when buyers do have problems. Greenbelt is engaged in
A. a traditional transactional orientation. B. effective supply chain management. C. a virtual monopoly. D. value cocreation. E. C2C value-driven marketing.
Explain the McMullen-Shepherd Model.
What will be an ideal response?
External investors generally require the entrepreneur to commit a large percentage of his or her personal assets.
Answer the following statement true (T) or false (F)