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Which of the following is an external source for product ideas? A) marketing B) employee suggestions C) research and development D) management E) industry experts
Which of the following is an external source for product ideas?
A) marketing
B) employee suggestions
C) research and development
D) management
E) industry experts
Expert Solution
The answer is E) industry experts
Industry experts are the leaders in their industry. They understand the trends and historical data associated with the industry and can predict future demands.
Marketing is the process of pricing, promoting, and distributing a product to promote sales. Employee suggestions is considered an internal source, but suggestions are just as valuable because employees deal directly with customers and have a grasp on their demands. Research & Development is the function of a business tasked with designing products; they are considered "internal" to the company. Management oversees all functions of a business and can also provide insight from an internal perspective.
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