answersLogoWhite

0

A new product, or a major improvement to an existing product, is called an invention.An invention strategy is a summary of your idea that tells the world what it is, why they need it and how your invention is superior to other products.

User Avatar

Wiki User

12y ago

What else can I help you with?

Related Questions

Differentiate between product strategy and promotional strategy?

They can mean the same thing. Or Product Strategy is focused on the product and what objectives its meant to achieve for the user/consumer Promotional Strategy is focused on correctly Branding and promoting the product to the Target Markets.


What is the difference between an invention and a prototype?

A invention is a finish product by the creator. This product works completely and almost perfectly and is ready to use by everyone. However a prototype is a product in its early stages. The product either is not safe to use, or has many flaws. A prototype is not a finished product while a invention is a finished product


What is a Pull Strategy?

The pull strategy is a strategy geared at increasing the popularity of a product. It is a strategy that relies on product promotion. The promotion involves heavy advertising and trade promoting to increase demand for product via retail, wholesale, and consumer channels.


What is good sentence with the word product?

That invention will make such a great product.


What is the marketing strategy of the product?

The original marketing strategy of Olay products was unique as it did not say what he product really did but focused on the secret of looking younger with the product. The marketing strategy is aimed at helping women look younger and beautiful.


What area manager make strategy for introducing new product in pharma industry in his territory?

strategy for introducing new product in the territory


What is the Marketing myopia strategy?

It is a Demand Based Pricing Strategy setting the price of product low, while the quality of product is neutral or medium.


What revisions are being made to the marketing strategy for the new product launch?

The marketing strategy for the new product launch is being updated and improved.


What does Samantha think about the new marketing strategy for the upcoming product launch?

Samantha is enthusiastic about the new marketing strategy for the upcoming product launch.


What is a product strategy used for in a marketplace?

Product strategy is the strategic placement of an item or idea into the mainstream market. Using product strategies in a marketplace can greatly increase the sales and profit by getting the product to the targeted buyer.


What is Costco wholesale corporation's product strategy?

Quality product at the cheapest cost.


What are some typical business strategies?

For merchandising businesses, when a business wants to enter an existing market with a new product, the appropriate strategy is called "product development", and when there is an existing product, the strategy is called "market penetration". When a business wants to create a new market with a new product, the strategy is called "diversification", and when a company wants to introduce an existing product onto a new market, the strategy is called "market development".