The product innovation is developing a new product, in order to become fair on the one hand technical progress to compensate in addition, around in any case need shift to side of the Nachfrager.

The necessity for product innovation lies in the change of and in the appearance of technological trends. The product innovation can be differentiated and classified according to different criteria. By market innovation one understands that an appropriate offer is available at the market for the first time. But also the term "“absolute innovation"” was coined/shaped. Enterprise innovation designates an offer, which is new only for the enterprise concerned, not however for the market actually. One speaks in this case also of "“relative innovation"”. With the product innovation it concerns a marketable product/offer, which is at the market absolute or relatively new, while by procedure innovation a new method is understood for the production of a marketable offer, which is even not marketable.

According to the innovation inclination the behavior of the early Folgers (with the chance of a smaller risk because errors of the pioneer to be avoided to be able and the disadvantage of the overcoming of market barriers as well as strategy adjustment at the Innovator) can differentiate, that one of the modifier (with the chance on occupation of a market gap however the risks of small clearance and high market entrance barriers), as well as that one latecomers (characterized by the smallest research and development expenditures and smallest market risks as well as the danger of the price fights) with respect to pioneer behavior (with the chance on an absorption price strategy however the largest risk of the Sunk Costs because of the largest uncertainty over the further market tendency/market success of an offer).

See also: Product politics

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• Article permanent product innovation

Articles in category "Product innovation"

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