According to the ________ approach to defining innovation,products are considered new if they have been purchased by a relatively small percentage of the potential market or if they have been on the market for a relatively short period of time.
A) product-oriented
B) market-oriented
C) consumer-oriented
D) firm-oriented
E) development-oriented

Question

Quizplus · Accepted Answer

The market-oriented approach defines innovation based on its performance in the market, such as its adoption rate by consumers and how long it has been on the market. The other approaches are more focused on the product, firm, or development process itself.

According to the ________ Approach to Defining Innovation,products Are Considered