The Term Value Innovation Is Used to Describe

question 62

Multiple Choice

The term value innovation is used to describe:

• A) the way a company decides to group customers based on important differences in their needs to gain a competitive advantage.
• B) a business's overall competitive theme, the way it positions itself in the marketplace to gain a competitive advantage, and the different positioning strategies that can be used in different industry settings.
• C) what happens when innovation pushes out the efficiency frontier in an industry, allowing for greater value to be offered through superior differentiation at a lower cost than was previously thought possible.
• D) what happens when a company decides to ignore different segments, and produce a standardized product for the average consumer.
• E) what happens when a company decides to serve many segments, or even the entire market, producing different offerings for different segments.

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Definitions:

Uric Acid

A chemical created when the body breaks down substances called purines, excreted in urine and associated with gout and kidney stones when present in high concentrations.

Urea

A nitrogenous waste compound produced by the breakdown of proteins in the liver and excreted in urine.

Vertebrate Kidney

Organs in vertebrates responsible for filtering blood, removing waste products, and balancing bodily fluids.

Habitats

The natural environments where organisms live, providing the necessary resources for their survival and reproduction.