Which of the following is true of product modification?
A)It entails the creation of marketable new products.
B)It necessitates the use of crowdsourcing to develop new ideas for a product.
C)It goes beyond applied research by converting applications into marketable products.
D)It makes cosmetic or functional changes to existing products.

Question

Quizplus · Accepted Answer

Product modification involves making changes or alterations to existing products, either in terms of their design, features or functions, to improve their market appeal, usability or performance. These changes can be cosmetic or functional in nature and are made to adapt the product to changing customer needs or preferences, or to differentiate it from competitor offerings. It does not necessarily result in the creation of entirely new products, as in the case of product innovation, nor does it require the use of crowdsourcing to generate new ideas or insights. It is also distinct from applied research, which focuses on generating new knowledge or insights, and instead involves the application of existing insights or knowledge to improve a product.

Which of the Following Is True of Product Modification