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Innovations in Product Development

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Questions and Answers

What is the primary outcome of innovations?

Elimination of outdated technologies

Development of new or improved products, processes or ideas (correct)

Reduction of production costs

Increased market competitiveness

Which of the following best describes innovations?

Replications of existing products

Temporary changes in consumer preferences

Variations in traditional processes

New knowledge impacting improvements (correct)

Innovation can lead to improved performance in which area?

Cost reduction

Market share

Employee satisfaction

Productivity and efficiency (correct)

What is NOT a characteristic of innovations?

<p>They always require new technology</p> Signup and view all the answers

How do innovations contribute to businesses?

<p>By leading to new or improved offerings</p> Signup and view all the answers

Innovations in Product Development

Choose a study mode

Podcast

Questions and Answers

What is the primary outcome of innovations?

Which of the following best describes innovations?

Innovation can lead to improved performance in which area?

What is NOT a characteristic of innovations?

How do innovations contribute to businesses?

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