ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Product innovation is the process of creating a new product-or improving an existing one-to meet customers’ needs in a novel way. There are three key types of innovation: Sustaining innovation, in which a business consistently provides the highest quality products to its best customers.

Detailed explanation-2: -There are three types of product innovation: new product innovation, incremental changes of existing products, and new product features.

Detailed explanation-3: -The innovations include technological inventions such as wind turbines, photovoltaic cells, concentrated solar power, geothermal energy, ocean wave power and many other emerging innovations.

Detailed explanation-4: -Automobiles. The automobile industry and its companies release new vehicle lineups every year, often with fresh features, designs or technology. Cellular phones. Televisions. Computers. Watches. Clothing. Bike locks. Suitcases. More items •21-Jul-2022