Asked by ethan battista on Jul 18, 2024
Verified
Most product innovations consist of minor changes to existing products and are incremental improvements.
Product Innovations
Refers to the introduction of a new or significantly improved product or service that meets new requirements or satisfies existing market needs.
Incremental Improvements
Small, continuous enhancements made to a product or process over time, aiming for better efficiency or performance.
- Identify the nature of product innovations and their improvements.
Verified Answer
MM
Manuel MolinaJul 23, 2024
Final Answer :
True
Explanation :
Most product innovations are indeed incremental, involving minor changes or improvements to existing products rather than radical or breakthrough innovations. This approach allows companies to continuously enhance their offerings and maintain competitiveness with lower risk compared to developing entirely new products.
Learning Objectives
- Identify the nature of product innovations and their improvements.
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