Most Product Innovations Consist of Minor Changes to Existing Products

question 79

True/False

Most product innovations consist of minor changes to existing products and are incremental improvements.

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Definitions:

Marketing Manager's Controllable Factors

Elements such as product, price, place, and promotion that marketing managers can directly manipulate to achieve marketing objectives.

Marketing Mix

The combination of factors that can be controlled by a company to influence consumers to purchase its products, typically including product, price, place, and promotion.

Marketing Problem

A challenge that businesses face when trying to effectively market their products or services to the right audience.

Stakeholder Rewards

Benefits, monetary or otherwise, given to stakeholders of an organization, including employees, customers, and investors, as recognition for their contribution.