Final answer:
Products with added-value features that build on earlier versions exemplify Incremental Innovation, which involves small improvements or enhancements rather than industry-transforming changes.
Step-by-step explanation:
Products that share certain features with earlier products while incorporating new, added-value features fall into the category of Incremental Innovation. This type of innovation involves modifying an existing product or process to enhance it, rather than a complete overhaul or introduction of an entirely new concept. Incremental innovation builds upon a foundation that already exists in the market, improving upon it with additional features or improvements that add value to the product for the consumer.
Examples of incremental innovation might include a new model of a smartphone that retains core functions of its predecessors but introduces a better camera or longer battery life. Unlike radical innovation, which revolutionizes a product or industry with something completely new, or disruptive innovation, which creates a new market and value network, incremental innovation focuses on existing technologies and markets.The category in question where products share certain features with earlier products while incorporating new, added-value features is Incremental Innovation. Incremental innovation refers to the process of making small improvements or modifications to existing products or processes. This type of innovation builds upon previous versions and enhances them by adding new features or making them more efficient.