Question

In order to generate quick revenue, Helium Corp., an electronics manufacturing firm makes a technical improvement to one of its competitor's ERP offerings. This is an example of _____.

1. leveraged creativity
2. state-of-the-art breakthrough
3. applications engineering
4. product adaptation

Answer 1

This is an example of:

4. product adaptation

Step-by-step explanation:

Product adaptation is the process by which the management of a company changes product features to meet the needs of specific consumers. It can involve the improvement of a key feature that meets customer demand. This improves a company's competitive advantage over it's rivals. There are various reason as to why a product might need to be improved, namely;

1. To meet the regulatory standards in that particular area. Maybe the specification standards has changed, so the company also adjusts it's products to fit into the threshold of the required standards.

2. To make the product more attractive to a particular audience.

In general, product adaptation is meant to increase the market share especially in a business environment that is always changing with respect to customer needs and business regulations. An increased market share for the improved products usually translates to increased profit margins. Big profit margins is usually considered as a sign of success by most commercial businesses.