Describe the four types of innovation. Give an example of each.
What will be an ideal response?
A product innovation is a change in the appearance or the performance of a product or a service or the creation of a new one. A process innovation is a change in the way a product or service is conceived, manufactured, or disseminated.
Incremental innovations are the creation of products, services, or technologies that modify existing ones. Radical innovations are the creation of products, services, or technologies that replace existing ones.
The student should provide an example for each of the types of innovation listed above.
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What will be an ideal response?