Exploring Innovation in Product Development

Which of the following is a key stage in the Stage-Gate model of new product development?

• Ideation

• Testing

• Commercialisation

• Launch

In the context of new product development, what does the acronym 'NPD' stand for?

• New Product Design

• New Product Development

• New Process Development

• New Production Design

Which innovation model focuses on the iterative process of prototyping, testing, and refining a product?

• Waterfall Model

• Agile Model

• Stage-Gate Model

• Lean Startup Model

What is the primary goal of the 'Fuzzy Front End' in new product development?

• To finalise the product design

• To generate and screen new ideas

• To conduct market testing

• To launch the product

Which of the following is NOT typically considered a part of the 'Design Thinking' process?

• Empathise

• Define

• Ideate

• Manufacture

In the context of innovation models, what does the term 'Open Innovation' refer to?

• Innovation that is open to all employees

• Using external ideas and paths to market

• Innovation that is open to the public

• Innovation that is free of charge

Which model of innovation is characterised by a linear sequence of steps from idea generation to product launch?

• Agile Model

• Waterfall Model

• Stage-Gate Model

• Lean Startup Model

What is the primary focus of the 'Lean Startup' methodology in new product development?

• Extensive market research

• Rapid prototyping and customer feedback

• Detailed business planning

• Large-scale production

Which of the following is a benefit of using the Stage-Gate model in new product development?

• Increased flexibility

• Reduced time to market

• Structured decision-making process

• Lower development costs

In the context of new product development, what is a 'Minimum Viable Product' (MVP)?

• A product with the maximum number of features

• A product that is ready for mass production

• A product with just enough features to satisfy early adopters

• A product that has been fully tested and validated