Innovation can be defined as:
A) an offering that is perceived as new by consumers within a market segment and that has an effect on existing consumption patterns.
B) the creation of value through customers' participation in new product development, among other marketing activities.
C) the usage of technology to facilitate human togetherness, and reduce human separation.
D) a concept that suggests that products go through an initial introductory period followed by periods of sales growth, maturity, and decline.
E) the degree to which consumers influence each other in the diffusion of a new product.

Question

Quizplus · Accepted Answer

This definition of innovation highlights the importance of consumer perception and behavior change in the introduction and adoption of new products or services.

Answer: B 
 This definition highlights the role of customer participation in creating value through the development of new products, as well as other marketing efforts.

Answer: C 
 This definition describes the use of technology to bring people together and bridge distances between them.

Answer: D 
 This definition describes the stages of a product lifecycle, beginning with introduction and ending with decline.

Answer: E 
 This definition describes the degree to which consumer behavior is influenced by the diffusion of a new product, which can vary depending on factors such as social norms and the characteristics of the product itself.

Innovation Can Be Defined As