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Which of the following is not a place identified in the text source for new product idea generation?

1) Trend watching
2) Balanced Scorecard Assessment
3) Customers
4) Competition
5) Market research

User Vesche
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8.2k points

1 Answer

4 votes

Final answer:

The Balanced Scorecard Assessment is not identified as a source for new product idea generation in the provided text. It is a strategic management tool, rather than a direct method for idea generation unlike trend watching, customers, and competition.

Step-by-step explanation:

The question is asking about the sources for generating new product ideas that are not identified in the given text source. The listed options are trend watching, Balanced Scorecard Assessment, customers, competition, and market research. From the information provided, trend watching, customers, and competition are commonly known and valid sources for new product ideas, as they involve gathering data from market and consumer behavior. However, the Balanced Scorecard Assessment is a strategic planning and management system used for business performance management and is not directly related to new product idea generation. Therefore, option 2, 'Balanced Scorecard Assessment' is the likely answer as it is not a place identified in the text source for new product idea generation.

The information provided also discusses the importance of gathering information from stakeholders, accessing expert knowledge, and conducting a root cause analysis to identify problems, which are all relevant to product development. However, these details don't specifically point towards the use of Balanced Scorecard Assessment in idea generation.

User Geoffrey Stoel
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7.7k points
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