The MyMMs Example in the Chapter Is NOT a Good

question 11

Multiple Choice

The MyMMs example in the chapter is NOT a good illustration of:

• A) Premiumization: selling a traditional product for more money
• B) Services innovation: figuring out how to sell a product as a service
• C) Personalization: customizing a mass product for individual consumers
• D) Disruptive technology: inventing an entirely new printing technology

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Definitions:

Employment Contract

A formal agreement between an employer and an employee that outlines the terms and conditions of employment.

Enforceable Contract

An enforceable contract is one where all parties involved have agreed on the terms and which can be upheld and compelled by law.

Quasi-contract

A legal concept where a court imposes a contractual obligation on a party who didn't necessarily agree to it, to prevent unjust enrichment.

Implied-in-fact Contract

is an agreement derived from the actions, conduct, or circumstances of the parties involved, rather than from explicit written or spoken terms.