For firms that adopt innovation as a core component of their strategy, price, not product performance, is the major selling feature.

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When a firm adopts innovation as a core component of their strategy, they often prioritize product performance over price. This is because innovative products tend to have unique features and benefits that can justify a higher price point. Customers may also be willing to pay more for a product that offers something new and innovative. However, there are certain cases where price can be a major selling feature for innovative products. For example, if a firm can offer an innovative product at a lower price point than its competitors, this could be a major selling point. Additionally, in highly competitive markets, firms may use pricing strategies to gain a competitive advantage even if their products are not necessarily the most innovative.

For Firms That Adopt Innovation as a Core Component of Their