Product innovation is the creation and subsequent introduction of a good or service that is either new, or improved on previous goods or services. This is broader than the normally accepted definition of innovation to include invention of new products which, in this context, are still considered innovative.
Other articles related to "product innovation, product, products":
... design team often works with outside product consultancies such as TEAMS Design, Altitude, Beyond Design and many others to design award winning products ...
... Product innovation often takes place when a product's sales are in decline ... commonly used method to extend the life of a product ...
Famous quotes containing the words innovation and/or product:
“Both cultures encourage innovation and experimentation, but are likely to reject the innovator if his innovation is not accepted by audiences. High culture experiments that are rejected by audiences in the creators lifetime may, however, become classics in another era, whereas popular culture experiments are forgotten if not immediately successful. Even so, in both cultures innovation is rare, although in high culture it is celebrated and in popular culture it is taken for granted.”
—Herbert J. Gans (b. 1927)
“A gentleman opposed to their enfranchisement once said to me, Women have never produced anything of any value to the world. I told him the chief product of the women had been the men, and left it to him to decide whether the product was of any value.”
—Anna Howard Shaw (18471919)