Buy custom What is known about the relevance of creativity and its promotion to successful product innovation?
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| Topic: |
Business
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| Number of pages / Number of words: |
17 / 4577 |
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produces a product or service that is new to it, or uses a method that is new or original.
For example, if a competitor has already brought out the product into the market, it is then an imitation rather than an innovation. It is innovation that gives organisations an edge. Thomson (2001: 466) goes on to explain that the aim of innovation is to ?add value' for the customer by reducing costs or differentiating the product or total service in some sustainable way...
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Thomson (2001: 466) goes on to explain that the aim of innovation is to ?add value' for the customer by reducing costs or differentiating the product or total service in some sustainable way. Thomson also highlights the four main forms of innovation.
The first form is a new product which are radically new or which extend the product life cycle...
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What is known about the relevance of creativity and its promotion to successful product innovation?
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