Innovation by Imitation Damages the Existing Product's Competitive Advantage by Reducing

question 21

Multiple Choice

Innovation by imitation damages the existing product's competitive advantage by reducing its

• A) rarity.
• B) target market.
• C) intrinsic worth.
• D) usefulness to the consumer.

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Definitions:

Synthetic

Artificially made, usually through chemical synthesis, as opposed to being naturally produced.

Customer-Driven

Customer-driven refers to business strategies and operations that prioritize the needs and preferences of customers in the development and delivery of products or services.

Process-Oriented

describes an approach focusing on the execution of tasks and procedures to achieve specific outcomes, emphasizing the importance of how actions are performed.

Synthetic

Pertains to materials or substances that are artificially made rather than naturally occurring.