The Term ________ Refers to Initiatives, Such as Netflix in Movie

question 73

Multiple Choice

The term ________ refers to initiatives, such as Netflix in movie rentals and IKEA in furniture, which revolutionize how products are sold in an industry.

• A) product model modernism
• B) business model innovation
• C) feasibility analysis innovation
• D) value innovation
• E) opportunity innovation

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Definitions:

Alter

To change, modify, or adjust.

Quantity Supplied

The capacity of goods or services that producers are inclined and qualified to vend at an identified price for a designated span of time.

Price Rises

An increase in the cost of goods or services over time, often referred to as inflation.

Increase in Supply

A situation where the quantity of a product that producers are willing and able to sell at various prices rises, often due to factors like technological advancements or decreased production costs.