ADM 2320 Lecture 8: Chapter 8

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By adding new products to their offerings, firms can create and deliver value more effectively by satisfying the changing needs of their current products or service offerings never knew they needed. Firms can identify problems and develop products that customers. Firms take well known offerings and innovate it to make it more. Longer a product exists in the market, the more likely it is that the. Without new products or services , the value of the firm will ultimately. Example: if rebook made the same shoes year after year nobody would buy them because shoes last over a year, but if they made a new shoe each year people would market will become saturated. Through innovations, firms often create a broader portfolio of products, decline which helps them diversify their risk and enhance firm value better than single product add to their existing portfolio. Tapping innovative ideas allows companies to create new products to.

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