Homogeneous Products Can Be Easily Differentiated, Often Using Obvious Characteristics

question 227

True/False

Homogeneous products can be easily differentiated, often using obvious characteristics such as style, colour, and fit.

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Definitions:

Efficiency-Enhancing Innovations

Changes to existing products or ideas that make them lower cost.

Market-Creating Innovations

Innovations that generate new markets by fulfilling unmet needs or creating new categories of products or services.

New Class of Consumers

Emerging segments of the market population with distinct characteristics, behavior patterns, or purchasing preferences not previously accounted for.

Market-Creating Innovations

Innovations that create new markets through meeting previously unfulfilled needs or establishing new types of products or services.