Final answer:
Customers are perhaps the most important external source of new-product ideas as they provide valuable insights and feedback on existing products as well as identify unmet needs and desires. Companies can gather customer feedback through market research, surveys, and focus groups to uncover new ideas and shape future product development strategies.
Step-by-step explanation:
The most important external source of new-product ideas is customers. Customers play a critical role in providing valuable insights and feedback on existing products, as well as identifying unmet needs and desires. By understanding customer preferences and staying connected to their evolving needs, companies can develop innovative products that are more likely to succeed in the market.
For example, companies often conduct market research, surveys, and focus groups to gather direct feedback from customers. This feedback can uncover new product ideas, help refine existing products, and shape future product development strategies.
In addition to customers, other external sources of new-product ideas include competitors, trade magazines, shows, and seminars, and distributors and suppliers. However, customers are considered the most important source due to their direct influence on product demand and success.