Innovations in Products,services or Processes That Are Radically Change in an Industry's

question 31

Multiple Choice

Innovations in products,services or processes that are radically change in an industry's 'rules of the game' are known as a(n) _________________.

• A) change due to environmental forces
• B) disruptive innovation
• C) technology changes
• D) product changes
• E) ambidextrous approach to changes

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Definitions:

Market Access

The conditions and barriers that a company faces when trying to enter a new market or industry, including regulatory, policy, and trade barriers.

Targeting Strategy

An approach businesses use to identify and serve specific segments of the market that are most likely to benefit from their products or services.

Market Segments

Subsets of a market composed of individuals or organizations with similar characteristics, needs, or behaviors that a business targets as part of its marketing efforts.

Positioning Strategy

A marketing approach that aims to establish a brand or product in the mind of the target audience in comparison to competitors.