What sources of new product ideas might a company such as caterpillar use?
Answers
Answer:
Here we present the most common sources for new product and service ideas:
1) Information from Customers.
2) Information from Distributor.
3) Competitor Analysis.
4) Exhibition.
5) Publications, Journal.
6) Universities, private Institutions.
7) Patents.
Answer:
The sources of new product ideas might a company such as caterpillar use
Explanation:
Here we present the most common sources for new product and service ideas:
Information from Customers.
Information from Distributor.
Competitor Analysis.
Exhibition.
Publications, Journal.
Universities, private Institutions.
Patents.
Products such as gadgets, raw materials, creative services and day-to-day necessities, are the lifeblood of a business.
While ideas for new products do occasionally strike people like Newton's proverbial apple, such unbidden inspiration cannot be relied upon
A new product is one that the company is releasing for the first time, even if it has been produced in the same form by others. For instance, in the market for toilet soaps, the many brands that each firm has produced are, in that sense, new items since they are new to the company.
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