List Three Reasons Firms Innovate

question 104

Essay

List three reasons firms innovate.

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Definitions:

Brand's Position

Refers to a brand's unique place in the market, perceived by consumers, in relation to its competition, based on attributes, benefits, values, or identity.

Personality

The combination of characteristics or qualities that forms an individual's distinctive character, often applied to brands to humanize them.

Main Strength

The primary or most significant strength or advantage of an individual, organization, or object.