Definition of Product innovation:
The development and market introduction of a new, redesigned or substantially improved good or service. Examples of product innovation by a business might include a new products invention; technical specification and quality improvements made to a product; or the inclusion of new components, materials or desirable functions into an existing product.
How to use Product innovation in a sentence?
- They credited Paul with improving the product innovation . His idea to add a large motor was what caused this huge uptick in sales.
- The owner of the ice cream shop in town decided on a product innovation by changing the recipe for her ice cream cakes, using more natural ingredients rather than artificial.
- Amazon is a leader in product innovation because the company is always researching and implementing new features and ideas that enhance the experience for their users and customers.
Meaning of Product innovation & Product innovation Definition