Open Innovation Is

Open innovation is

A) a clear plan for new product distribution that will ensure access for all potential customers within the first year of release.
B) a formal and comprehensive analysis of competitors' products to discover ideas for product improvements.
C) an unlimited budget that can be spent for the marketing program for a new product.
D) designing a product around specific customers' needs, wants, and preferences.
E) the practices and processes that encourage the use of external and internal ideas and collaboration when conceiving, producing, and marketing new products.