Marketing - How Do We Judge the Value of New Ideas

The video tutorial discusses how to evaluate new business ideas by considering factors such as sustainable competitive advantage, return on investment (ROI), time to profit, and environmental impact. It emphasizes the importance of choosing ideas that are not only innovative but also financially viable, timely, and environmentally responsible.

What is a sustainable competitive advantage?

• A high initial investment

• A temporary market trend

• A unique feature that is hard for others to replicate

• An idea that is easy to copy by competitors

How can a business determine the financial viability of a new idea?

• By analyzing competitor strategies

• By evaluating the time to market

• By calculating the return on investment

• By assessing the environmental impact

Which of the following is a better investment?

• An idea with a high return on investment

• An idea with a low return on investment

• An idea with a long time to market

• An idea with a high initial cost

Why is the time to profit an important factor in evaluating new ideas?

• It affects the long-term sustainability of the business

• It indicates how quickly a new idea will become profitable

• It shows the environmental impact of the idea

• It determines the initial investment required

What is a common benchmark for evaluating new ideas in today's world?

• Market share

• Customer satisfaction

• Environmental impact

• Brand recognition