difference between radical and product
Answers
Answer:
A radical or disruptive innovation is an innovation that has a significant impact on a market and on the economic activity of firms in that market. Incremental innovation concerns an existing product, service, process, organization or method whose performance has been significantly enhanced or upgraded.
Answer:
Radical
Product
Explanation:
A radical or disruptive innovation is one that has a significant impact on a market and on the economic activity of firms in that market, while incremental innovation concerns an existing product, service, process, organization or method whose performance has been significantly enhanced or upgraded. Incremental innovation is the dominant form of innovation. The nature of innovation and the rate of technological change greatly differ from sector to sector and across countries and time periods.
A product is the item offered for sale. A product can be a service or an item. It can be physical or in virtual or cyber form. Every product is made at a cost and each is sold at a price. The price that can be charged depends on the market, the quality, the marketing and the segment that is targeted. Each product has a useful life after which it needs replacement, and a life cycle after which it has to be re-invented. In FMCG parlance, a brand can be revamped, re-launched or extended to make it more relevant to the segment and times, often keeping the product almost the same.