Which of the following is an example of a process innovation?
A) A firm introducing parking-assist vehicles
B) A firm introducing a new social media site
C) A firm introducing one-click purchasing
D) A firm introducing premium services for a fee
E) A firm creating the world's largest online marketplace

Question

Quizplus · Accepted Answer

One-click purchasing is an example of process innovation as it streamlines the purchasing process and reduces the time required for a user to complete a purchase. This innovation is focused on improving an existing process rather than creating a new product or service. A parking-assist vehicle (A) would be a product innovation, a new social media site (B) would be a product or platform innovation, premium services for a fee (D) would be a pricing strategy innovation and creating the world's largest online marketplace (E) would be a marketing or platform innovation.

Which of the Following Is an Example of a Process