Questions: At which stage in the new product development process does the company have a number of ideas that it thinks might work and gets customers' feedback as to which ideas sound most promising?

At which stage in the new product development process does the company have a number of ideas that it thinks might work and gets customers' feedback as to which ideas sound most promising?

Transcript text: At which stage in the new product development process does the company have a number of ideas that it thinks might work and gets customers' feedback as to which ideas sound most promising?

Solution

The answer is: concept testing.

Explanation for each option:

Design Development: This stage involves creating detailed designs and prototypes of the product. It occurs after concept testing and focuses on refining the product's design.
Concept Testing: This is the stage where the company has several ideas and seeks customer feedback to determine which concepts are most promising. It helps in evaluating the potential success of a product before significant resources are invested.
Idea Generation: This is the initial stage where a company brainstorms and gathers a wide range of ideas for new products. It precedes concept testing and does not involve customer feedback.
Product Launch: This is the final stage where the product is introduced to the market. It occurs after all development and testing phases are complete.

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