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Scenario 15-3
It's time to take your weekly trip to the grocery store.You bring a coupon good for 50¢ off a national brand of coffee.As you walk the aisles, a woman asks if you'd like to try a slice of pizza.After you taste it, she points out where the brand is kept in the freezer display.When you get to your favorite brand of toothpaste, you're delighted to find that a toothbrush with the same brand name is attached to the box at no charge.You turn the corner and run into a cardboard cutout of one of the stars from a leading medical drama on TV.This display has a medical kit full of a new brand of pain reliever built into it.Your last stop is the cereal aisle, where you notice that one brand offers a chance to buy a T-shirt with a picture of the brand's cartoon character for $4.95.
-(Scenario 15-3) Your toothpaste purchase involved an example of
Technological Advance
The introduction of new technologies or the improvement of existing technologies, leading to better products, services, or ways of doing things.
Process Innovation
The introduction of new or significantly improved production or delivery methods, enhancing efficiency and effectiveness.
Product Innovation
This involves creating new products or significant improvements in the existing products to meet consumer needs or open new markets.
R&D Expenditures
Investments in research and development, aimed at innovating and improving products or processes.
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