Answer to Question #216428 in Marketing for Raja

Question

Go to the Save Mart and make a list of 50 items that appear to be new products rate each product for its level of innovation, with a 25 being extremely involved in highly innovative and a 10 being a very minor changes such as an improved package or pleasant smell how truly new and innovative are these products overall? Do you think companies are being at risk averse? give a reason for your answer? 

Answer 1

Answer

Generally, the products are not new and innovative as they are termed. The items are only added some flavors or other spices which makes them unique. However, the products still satisfy the same need as the previous version which shows that there is no innovation in them. This shows that the companies are at risk averse because they are not innovating any new products. Only advancement of the existing products is being done.