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Product Innovation
The process of developing and bringing a new product or an improved version of an existing product to the market.
Economics of Scale
Benefits in cost efficiency that organizations achieve through their operation size, leading to reductions in unit cost as the scale grows.
Diffusion
The process by which an innovation, idea, or trend spreads within a population or from one society to another.
Innovation
The act of transforming a concept or innovation into a product or service that generates value or that consumers are willing to purchase.
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