Which of the following statements refers to incremental innovation?
A)It is a pricing strategy that a company uses to get paid for the value it delivers through its business model.
B)It can be described as building on a firm's established knowledge base to create minor improvements to the product or service a firm offers.
C)It can be described as innovation that draws on a different knowledge base, technologies, or methods to deliver value in a truly unique way.
D)It can be described as building on a competing firm's established knowledge base to steadily improve a firm's own product or service.

Question

Quizplus · Accepted Answer

Incremental innovation refers to making minor improvements to an existing product or service by building on a firm's established knowledge base. Option A describes a pricing strategy, option C describes radical innovation, and option D describes imitative innovation.

Which of the Following Statements Refers to Incremental Innovation