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  • Elimination of outdated technologies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

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