Which of the Following Correctly Describes the Difference Between Product

question 5

Multiple Choice

Which of the following correctly describes the difference between product and process innovation?

• A) An example of product innovation is just-in-time inventory systems while an example of process innovation is Cisco's development of the router.
• B) Product innovation generates value by creating new products while process innovation often allows a company to create more value by lowering production costs.
• C) Product innovation lowers production costs while process innovation provides enhanced versions of existing products that customers perceive as having more value.
• D) Product innovation is more important than process innovation in achieving competitive advantage.
• E) Product innovation decreases a company's pricing options while process innovation increases production costs.

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Definitions:

Social Learning

A type of learning in which people are more likely to imitate behaviors if they have seen others rewarded for performing them, and less likely to imitate behaviors if they have seen others punished for performing them.

Bad Dog

A colloquial expression often used to describe a dog's undesirable behavior.

Social Learning

A theory that explains how people learn new behaviors, attitudes, and skills by observing the actions of others.

Instrumental Learning

Learning based on the consequences of behavior, often described through the law of effect, where behaviors followed by favorable outcomes are more likely to recur.