innovation: coming up with something to fulfil existing customer needs or create an unmet customer want
- innovation = staying competitive. makes having the business sustainable
incremental innovation
- tweaking an existing product to be better.
- not major change or upgrade.
- helps retain customers and improve competitive position
- i.e. iPhones disruptive innovation
- dun dun dun WOW
- BOOM
- KA-BOOM
- KA-POW products
- Amazon. Email, Prius, Tesla
- launch a new product into an existing market
- displace market leaders
- high risk because it can change the nature of the market
