Question

1. __________ refers to the process by which ideas get transformed into new offerings, including products, services, processes, and branding concepts that will help firms grow. Marketing Innovation Strategic planning Augmentation

Answer 1

The answer is option B. Innovation

Step-by-step explanation:

Innovation is the process of translating an idea or invention into a good or service that creates value or for which customers will pay.

Innovation involves deliberate application of information, imagination and initiative in deriving greater or different values from resources, and includes all processes by which new ideas are generated and converted into useful products.

In business, innovation often results when ideas are applied by the company in order to further satisfy the needs and expectations of the customers.

Answer 2

Innovation

Step-by-step explanation:

Innovation refers to the process by which ideas get transformed into new offerings, including products, services, processes, and branding concepts that will help firms grow.

Innovation is the application of new ideas, imaginations, thought to a business firm in order to improve on it's services and increase Profit.

Business organzation needs Innovation to meet the changing needs of their customers.

Innovation helps firms to have more brands of their products, improve on customer relation and meet the needs of different group of targeted consumers.

Innovation could mean the use of technology in the production Process.