Lillypad Toys is a manufacturer of educational toys for children. Six months ago, the company's research and development division came up with an idea for a unique touchscreen device that can be used to introduce children to a number of foreign languages. Three months ago, the company produced a working prototype, and last month the company successfully launched its new device on the commercial market. What should Lillypad's managers prepare for next?

Question

Quizplus · Accepted Answer

The innovation process begins with an idea, followed by an invention, then innovation, and finally imitation. Lillypad's product has already moved through the first three stages of the innovation process and is entering the fourth and final stage. The company's managers should prepare for increased competition from competitors offering imitation products.

Lillypad Toys Is a Manufacturer of Educational Toys for Children