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.