Take Exam 2 and compare your solution. From the course Einführung in die Betriebswirtschaftslehre (EBWL) at Universität Duisburg-Essen (Uni DUE).
Based on the provided definitions, which of the following statements accurately describe types of innovation and their characteristics? Select all that apply.
A. A process innovation involves the implementation of a new or significantly improved production or delivery method, including significant changes in techniques, equipment, or software, and is often not directly visible to customers.
B. Product innovation focuses solely on introducing entirely new goods or services, excluding improvements to existing offerings.
C. Marketing innovation encompasses only changes in product pricing strategies, excluding changes in product design, packaging, placement, or promotion.
D. Organizational innovation refers to the implementation of new methods within a firm’s business practices, workplace organization, or external relations, impacting how the business operates.