Answer to Question 1
The different types of innovations are as follows:
1 . Disruptive innovation gets a great deal of attention and has its roots in
technological discontinuities.
2 . Application innovation takes existing technologies into new markets to
serve new purposes.
3 . Product innovation takes established offers in established markets to the
next level.
4 . Process innovation makes processes for established offers in established
markets more effective or efficient.
5 . Experiential innovation makes surface modifications that improve customers'
experiences of established products or processes.
6 . Marketing innovation improves customer-touching processes.
7 . Business model innovation reframes an established value proposition to the
customer or a company's established role in the value chain, or both.
8 . Structural innovation capitalizes on disruption to restructure industry
relationships.
Answer to Question 2
B
Family was rated the lowest (-0.389 mean).
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economic question
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