Breadth of an Innovation Refers to

question 97

Multiple Choice

Breadth of an innovation refers to

• A) the number of different ideas that went into the invention of the new product.
• B) the rate of continuity.
• C) the rate of discontinuity.
• D) the innovativeness scale invented by IBS in the early 1920s.
• E) the new and different uses of a new product.

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Definitions:

Low Overhead

Describes a business model or operation where the fixed costs required to run the business, such as rent, utilities, and administrative expenses, are minimal, leading to higher profit margins.

Cash

Money in the form of coins and banknotes, which is considered liquid assets that can be used to settle debts, purchase goods, or services immediately.

Leasing

The practice of renting out property, such as vehicles or real estate, under a contract where the lessee agrees to make regular payments for a set period.

Image

The general perception that the public or a specific set of people have about a brand, product, or person.