What is Ideation?
Ideation is the act of forming ideas.
How Does Ideation Work?
For example, let's say Company XYZ makes widgets, and it wants to get into the children's widget market. Its product development team starts brainstorming ideas for specs, features and production methods.
This ideation process includes listing possible product features, designing prototypes, manufacturing prototypes, doing market research, and going back to square one with various iterations until something marketable and profitable emerges.
In a purely marketing context, ideation might involve creating an image board or concept for advertising.
Why Does Ideation Matter?
Ideation is what many business people spend a significant time doing. Without creativity, experimentation and dreaming, businesses would be far less innovative and thus far less profitable.
Personalized Financial Plans for an Uncertain Market
In today’s uncertain market, investors are looking for answers to help them grow and protect their savings. So we partnered with Vanguard Advisers -- one of the most trusted names in finance -- to offer you a financial plan built to withstand a variety of market and economic conditions. A Vanguard advisor will craft your customized plan and then manage your savings, giving you more confidence to help you meet your goals. Click here to get started.
Read This Next
For more than a year, my family has sought a bigger home in our suburban Dallas neighborhood. Now that the kids are older, we're ready for a pool, a different layout and a fifth bedroom for my...
Read More →
If the last time you bought or sold American options was in 2009, the new symbology might come as a surprise. Under the Option Symbology Initiative, a new protocol has been put in place to...
Read More →
If you'd like us to answer one of your investing questions in our weekly Ask The Expert Q&A...
Read More →
As hackers continue to perfect their craft, credit card fraud continues to be an easy way for crooks to get fast cash. But there's one kind of fraud that's potentially much more dangerous...
Read More →
You know those people who keep every store receipt and instruction manual nicely tucked away in a drawer or filing cabinet? Turns out, they've had the right idea all along. Why do I...
Read More →
