182k views
0 votes
When a large group of young people moves into a neighborhood, neighborhood businesses may try to develop new products to suit their needs. Which source of innovation does this illustrate?

A) Market pull
B) User-driven innovation
C) Customer co-creation
D) Demand-based innovation

User Burtek
by
8.5k points

1 Answer

3 votes

Final answer:

Market pull innovation is demonstrated when neighborhood businesses create products to meet the needs of an influx of young people into the area.

Step-by-step explanation:

When a large group of young people moves into a neighborhood and neighborhood businesses develop new products to cater to their needs, this illustrates the source of innovation known as market pull. Market pull is a type of innovation that arises from the needs and preferences of consumers in the market. This consumer demand inspires companies to create products that satisfy the new needs, demonstrating how demographic changes, like the influx of youth, can influence local economies and business strategies.

User OctaviaLo
by
8.3k points

No related questions found