Innovation

question 89

Multiple Choice

Innovation

• A) is the first discovery of a product or process, rather than its first successful commercial introduction.
• B) includes new products but not new production methods.
• C) is also known as diffusion.
• D) can either increase or decrease the market share of a large firm, depending on whether it is introduced by the large firm or one of its competitors.

---

Definitions:

Core Brand

The central, defining elements of a brand that shapes its identity and perception among consumers.

Luxury Brands

Brands that offer products or services perceived to be of high quality, exclusivity, and status, often accompanied by a premium price.

Brand Personality Destruction

The detriment or adverse alteration of a brand's perceived characteristics and identity, often caused by negative events, scandals, or poor marketing decisions.

Consumer Loyalty

The ongoing preference of a customer to buy a particular brand or product over competitors, often reflected in repeat purchases.