Innovation in Marketing

What is innovation?

• a new idea for a product or method

• the frequency of product change

• a new idea or product made into reality

• exclusive and assignable legal right given to companies

Innovation is described as the implementation of ideas into action.

• True

• False

Which of the following is an example of major innovation?

• creating a new product

• creating more efficient ways of working

• changing existing products

• identifying flaws in existing ways of working

If innovation is turning ideas into value, which of the following is not an example of value?

• commercial

• social

• political

• organisational

The D in DICEE stands for

What is DICEE about?

• elements of innovation

• target markets

• break-even points

• marketing methods

What does the I in DICEE represent?

What does the C in DICEE represent?

• capital

• commercial

• complete

• competence

What do the Es in DICEE represent?

• economy

• elegant

• empower

• entertain

Which of the following are the four most common types of innovation?

• product or service innovation

• strategy innovation

• marketing innovation

• business model innovation

• process innovation