Instruction - Write TRUE if the statement is true; FALSE if the statement is false.
1. Improvement refers to the creation of a new product which has
some utility; or up-gradation of existing product.
2. Product development is not essential for the growth of the
business.
True 3. Creation and innovation pave th way for new inventions and
generation of a new product which provides utility to the customers.
4. Fast and dynamic growth is being noticed when there is a downfall
in product performance.
5. Review of market performance is not necessary in order to know
competitor's strategy.
6. Sometimes competitors leave the market since they have sensed
the downfall of the business.
7. Idea generation is the first step in knowing customer's requirement
through market research.
8. Business analysis is a step in which the Balance Sheet is derived.
9. The company needs to analyze that competitor's innovative
product is providing a higher level of satisfaction to the customers.
True 10. In idea screening the idea is to be well studied and investigated.​