Final answer:
True, because only a small proportion of product ideas reach the product development stage, due to design complexities and market evaluations that filter out less viable options.
Step-by-step explanation:
The statement is true: relatively few product ideas are put into the product development stage. During the lengthy and often complex process of developing a new product, a great many considerations and evaluations are made. The initial phase of concept generation might yield numerous ideas, but only a select few of these concepts will ultimately make it through the subsequent stage of detailed design and development due to various constraints such as feasibility, cost, and market potential. An idea's transition to the in-depth design stage is critical for the ultimate success of the project. A poor design at this phase can compromise even the most promising of concepts. Thus, significant resources and time are dedicated to refining and perfecting the detailed design, which could still fail to meet customer needs if early decisions in the process were flawed. This high attrition rate is a natural filtering mechanism to ensure that only the most viable products make it to market. Many inventors face the disappointing reality that their inventions may not yield the profits expected. The commercial value derived from technological innovation frequently overshadows the value of the physical materials used in a product. For instance, the cost of plastics and wiring in computers is negligible compared to the value of the technology that enables advanced functionalities. Additionally, in rapidly advancing fields like biotechnology or semiconductor design, patents might play a less critical role due to the fast-paced evolution of the technology, potentially affecting the market success and profitability of new products.