Product Innovation Will Be Successful Only If It Makes the Product's

question 145

Multiple Choice

Product innovation will be successful only if it makes the product's

• A) marginal utility increase.
• B) price decrease.
• C) marginal-utility-to-price ratio increase.
• D) marginal-utility-to-price ratio decrease.

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Definitions:

Innovation Process

The sequence of activities that an individual or organization undertakes to conceive, develop, and bring to market new products or services.

Scaling

The process of increasing or decreasing the size, production capacity, or operational capabilities of an organization to handle growing or shrinking demand.

Innovation Process

A sequence of activities that begins with the generation of a new idea and culminates in the successful implementation of a new product, service, or method.

Experimenting

The act of conducting tests and trials to discover, validate, or test hypotheses, theories, or products.