The Term Value Innovation Is Used to Describe

question 62

Multiple Choice

The term value innovation is used to describe:

• A) the way a company decides to group customers based on important differences in their needs to gain a competitive advantage.
• B) a business's overall competitive theme, the way it positions itself in the marketplace to gain a competitive advantage, and the different positioning strategies that can be used in different industry settings.
• C) what happens when innovation pushes out the efficiency frontier in an industry, allowing for greater value to be offered through superior differentiation at a lower cost than was previously thought possible.
• D) what happens when a company decides to ignore different segments, and produce a standardized product for the average consumer.
• E) what happens when a company decides to serve many segments, or even the entire market, producing different offerings for different segments.

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Definitions:

Motor Development

The progression of muscle coordination, strength, and movement patterns, often in infants and young children.

Maturation And Practice

The process of development through natural growth and learning through repeated experiences or exercises.

Auditory

Relating to the sense of hearing or the system responsible for detecting sound.

Tactile Information

Details that are perceived through the sense of touch, contributing to how individuals understand and interact with their environment.