Process innovation typically overtakes product innovation in importance during the shakeout stage of the industry life cycle.
Answer the following statement true (T) or false (F)
True
As illustrated in Exhibit 7.7, the level of product innovation is at a maximum during the introductory stage because new features increasing perceived consumer value are critical to gaining traction in the market. In contrast, process innovation is at a minimum in the introductory stage because companies produce only a small number of products, often just prototypes or beta versions. During the growth stage, process innovation gains in importance while product innovation decline in importance. Finally, during the shakeout stage, when controlling costs becomes more important than increasing perceived product value, process innovation surpasses product innovation in importance.
You might also like to view...
The most serious disadvantage of observation is ________
A) if the observed phenomenon occurs frequently or is of short duration, observational methods may be cheaper and faster than survey methods. B) the reasons for the observed behavior may not be determined because little is known about the underlying motives, beliefs, attitudes, and preferences. C) observational methods permit measurement of actual behavior rather than reports of intended or preferred behavior. D) observational data is often time consuming and expensive and it is difficult to observe certain forms of behavior, such as personal activities.
Both U.S. GAAP and IFRS permit considerable flexibility with respect to the display of information in the statement of cash flows. If the firm uses the direct method of reporting cash flows from _____ activities rather than the indirect method, it must also provide a separate reconciliation of net income to cash flows from _____
a. operating; operating b. financing; financing c. investing; investing d. operating, investing; and financing; operating, investing; and financing; e. none of the above
Which of the following objectives does creation of buyer personas to describe buyers whose
needs will not be met by a product or service achieve? A) checking if a particular product is properly focussed B) helping liquidate inventory or selling product to another company C) allowing the product to penetrate all market segments D) understanding purchase motivation
The pattern of rules that society establishes to control the conduct of individuals in their relationships is called law
Indicate whether the statement is true or false