Amy plans to open a laundromat with a gym.She got the idea from the laundromat with a bar and game rooms,which she visits regularly.She wants to test her idea by starting out in a small space with the focus on the laundromat and a small space allocated for gym equipments.Amy's idea is an example of _____.
A) a blue ocean strategy
B) a pure innovation
C) an altruistic approach
D) an incremental innovation

Question

Quizplus · Accepted Answer

Amy's idea of starting out in a small space with the focus on the laundromat and a small space allocated for gym equipments is an example of incremental innovation. This means that Amy is not introducing a completely new and radical concept, but rather improving upon an existing idea by adding a new feature or modifying an existing one. In this case, Amy is combining the laundromat and gym concepts to create a new offering. This approach is less risky than pure innovation (B) and does not necessarily aim at creating a completely new market like a blue ocean strategy (A). Altruistic approach (C) is not relevant in this context as there is no mention of charity or social responsibility in the scenario.

Amy Plans to Open a Laundromat with a Gym