Introducing a product that is new to both the firm and target customers is known as open-sky innovation.

Name: Introducing a product that is new to both the firm and target customers is known as open-sky innovation.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Introducing a product that is new to both the firm and target customers is known as a blue-sky innovation which requires the greatest expenditure of effort and resources, because it often takes a long time to be accepted by the market and thus to become economically viable.

Introducing a Product That Is New to Both the Firm