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How would you explain idea generation and the role it plays in the new product development process?

How would you explain idea generation and the role it plays in the new product development process?

After reviewing this week’s resources and your research, in your own words how would you explain idea generation and the role it plays in the new product development process? Share one method of idea generation and apply it to a product you personally use. (Do not reuse the examples provided in the video.) Remember that all new products are not truly new, but can be modified based on consumer feedback and/or moving towards a new market segment.

References:

Peter, J. P., & Donnelly, Jr., J. H. (2019). A preface to marketing management (15th ed.). Columbus, OH: Irwin/McGraw-Hill.

W. Chan Kim, & Renee Mauborgne (2015).  Blue Ocean Strategy: How to Create Uncontested Market Space and Make the Competition Irrelevant.  Harvard Business Review Press

 

Read: 

Peter & Donnelly,

Chapter 6 “Product and Brand Strategy”

Chapter 7 “New Product Planning and   Development”

 

Blog: 

What is Idea   Generation? Definition, Techniques and Success Factors

https://www.viima.com/blog/idea-generation

Week 8 Video: 

SCAMPER   Technique: Best Idea Generation Methods


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