0
Want this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
Why marketing system is important?
Having a marketing system is very important. This is because the organization and innovation help you to meet the needs of the market.
What is product innovation?
because if we are not succsesfull in our plan and also in market and our product image has been removed from customes and consumers mind so we should make a change in our product because of this reason product innovation is more importan for us
What are the disadvantages of primary market research?
There really are no disadvantages to primary market research. What might be disadvantageous to an origination would be lack of resources or funds to conduct beneficial market research in the first place. Innovation in cost reduction must then be implemented.
Creating a new product life cycle is the underlying philosophy of a strategy based on A. product development B. innovation C. market development D. vertical integration E. horizontal integration?
Market Development
Identify the role of marketing objectives in developing a marketing plan?
Product introduction or innovation. Sales or market share. Projected profitability. Pricing. Distribution. Advertising. Team organization.
Why marketing system is important?
Having a marketing system is very important. This is because the organization and innovation help you to meet the needs of the market.
How can market growth be gained?
lead to innovation
What do you mean by innovation as a science push?
It means that the innovation of the product is lead by "new science" being developed, i.e. new technology leads to the production of a new product, as a pose to market pull innovation, where the market has a need, and science is developed to support the need.
Why do you need to understand what the customer needs are?
Understanding customer needs will help you define new market opportunities and drive innovation and revenue growth in every aspect of your organization.
Where and when can you submit your innovation?
Depending on the type of innovation will determine when and where the innovation can be submitted. If it has to do with the government then a government agency during business hours is when and where. Innovation is an application of new solutions which meet the any new requirements, existing requirements, or as is market needs.
What is an example of a sentence that uses the word 'innovation'?
'The innovation of the businessman brought great success to his company.' 'Due to his innovation, the inventor developed a much more efficient lightbulb than any other on the market.'
Advantages of innovation?
The best way to have an advantage or market share is to be innovative. Innovation inspires individuals and companies to find new ways of doing things.
What is disruptive technology?
A disruptive innovation is an innovation that helps create a new market and value network, and eventually disrupts an existing market and value network (over a few years or decades), displacing an earlier technology. Source: Wikipedia
How does a Market System result in more innovation than a Centrally Planned System?
The fact that more innovation takes place within a market system is due to the increased competition in the free market. As any firm is able to enter and exit the market, firms have to work hard to maintain their profitable status. This is among others done by innovation; creating new, profitable products with which they can gain a great market share and stay in business. Being innovative and reacting to changing circumstances and emerging opportutinities are the key factors for the survival of the firm. In a centrally planned economy however, this discipline of the market is less present and hence there is less incentive for innovation. Only one supplier (the government) is present and has all market power, so why should it bother about innovation to increase its profitable status or make its products more attractive? Consumers have no choice anyway.
Entrepreneurs drive innovation in a free-market system by introducing what?
Entrepreneurs drive innovation in a free-market system by introducing competition into the marketplace. They drive economic resources that has a positive impact on economic growth and development.Entrepreneurs drive innovation in a free-market system by introducing new creative ideas that others consider to be risky. Most of the ideas end up generating some good income.
Entrepreneurs drive innovation in a free-market system by introducing .?
Entrepreneurs drive innovation in a free-market system by introducing competition into the marketplace. They drive economic resources that has a positive impact on economic growth and development.Entrepreneurs drive innovation in a free-market system by introducing new creative ideas that others consider to be risky. Most of the ideas end up generating some good income.
What were important innovation in the west to help farms?
it help farmers to grow crops
