__________ is the introduction of new goods and services.
A)Collaboration
B)Invention
C)Innovation
D)Adaptation
E)Production life cycle

Question

Quizplus · Accepted Answer

Innovation refers to the process of introducing new goods or services in the market, which can improve or replace existing products. It involves creating new ideas, methodologies, technologies, and designs to enhance consumer experience and meet their evolving needs. Invention, on the other hand, refers to the creation of new products, ideas, and concepts that have never existed before. Although invention is the first step in innovation, it is not the same as innovation. Therefore, option C, innovation, is the correct answer to the question.

__________ Is the Introduction of New Goods and Services