What Are the Two Types of Innovation Metrics Used in Analyzing

question 108

Essay

What are the two types of innovation metrics used in analyzing the performance of new-product development?

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Definitions:

Expected Rate of Return

The expected rate of return is a forecasted percentage of the amount of profit or loss an investment is predicted to earn over a specific period, based on historical data or statistical analysis.

Patents

Legal documents that grant inventors exclusive rights to their inventions for a certain period, preventing others from making, using, or selling them without permission.

Imitation

The act of copying or closely replicating the products, services, or processes of competitors or industry leaders.

Marginal Utility

The extra satisfaction or utility gained by consuming one more unit of a good or service.