ENTREPRENEURSHIP

Detailed explanation-1: -What Is Product Innovation? 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: -Product innovation refers to changes that improve design, materials, feel, look, capacity, functionality, and overall user experience. An improvement can be tangible, such as a physical product, or intangible, like software or services.

Detailed explanation-3: -Defined as the adoption of a new idea or behavior by an organization. Disruptive Innovation. Refers to innovations in products or services that typically start small and end up completely replacing an existing technology for producers and consumers.

Detailed explanation-4: -Product innovation is the introduction of a new or improved good or service. These inventions or changes may have to do with improving technical specifications, the materials or the software used or even advancing on UX (user experience).