Types of innovation

Which type of innovation meets customers' needs by creating a new product or improving an existing one?

• Product innovation

• Service innovation

• Evolutionary innovation

• Disruptive innovation

When the iPod was launched, it succeeded in replacing established market leaders. What type of innovation was this?

• Product innovation

• Evolutionary innovation

• Marketing innovation

• Disruptive innovation

Which type of innovation might include changes in techniques, equipment and/or software?

• Product innovation

• Organisational innovation

• Process innovation

• Service innovation

Which type of innovation aims to better address customer needs, open up new markets, or position a firm's product on the market?

• Marketing innovation

• Disruptive innovation

• Service innovation

• Incremental innovation

Which type of innovation involves implementing a new organisational method, workplace organisation or external relations?

• Product innovation

• Process innovation

• Organisational innovation

• Service innovation

A generative AI chatbot designed to help small business access information about finances is an example of which type of innovation?

• Product innovation

• Incremental innovation

• Organisational innovation

• Service innovation

Which type of innovation can be described as a "modest product/process/service improvement that is (frequently) not overly expensive or risky and is relatively easily developed and deployed"?

(Schramm, 2017)

• Organisational innovation

• Incremental innovation

• Marketing innovation

• Evolutionary innovation

Which type of innovation can be described as an impactful change that "competes with earlier commercial product, process, or service(s) but does not significantly change (disrupt) markets"?

(Schramm, 2017)

• Evolutionary innovation

• Incremental innovation

• Disruptive innovation

• Organisational innovation