Which of the following is true of the idea screening phase of the new product development process?
A) New product ideas are not eliminated merely because they are outside the fields of a firm's interest.
B) Lack of technology and resources is often not a useful reason to discount new product ideas.
C) A firm must consider three categories of risk and risk tolerance in the idea screening phase prior to reaching a decision.
D) Unlike the idea generation stage, the idea screening stage is not involved in expanding viable ideas into full product concepts.

Question

Quizplus · Accepted Answer

The idea screening phase of the new product development process involves assessing the feasibility and potential of different product ideas. In this phase, firms must consider three categories of risk: market, technology, and execution, and determine their risk tolerance for each. This helps them make informed decisions about which ideas to pursue and which to eliminate. Option A is incorrect because new product ideas outside a firm's interest or core competency should be eliminated. Option B is incorrect because lack of technology and resources can be valid reasons to discount new product ideas. Option D is incorrect because the idea screening phase can involve refining and expanding viable ideas into full product concepts.

Which of the Following Is True of the Idea Screening