BUSINESS ADMINISTRATION
MARKETING MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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a traditional publishing company
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a small scale FMCG company
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a firm that procures and markets wheat
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a high-tech firm in telecommunications
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Detailed explanation-1: -Incremental innovation occurs when the innovation uses existing technology to improve a product or service that addresses the existing market. Each new version of Apple’s iPhone that comes out is typically incremental innovation.
Detailed explanation-2: -Essentially, there are three types of innovation: radical, incremental, and disruptive.
Detailed explanation-3: -Trialability – is “the degree to which the innovation may be experimented with on a limited basis. Innovations are easier to adopt if they can be tried out in part, on a temporary basis, or easily dispensed with after trial”.
Detailed explanation-4: -The five groups in the diffusion of innovation curve are innovators, early adopters, early majority, late majority, and laggards.