Title: Innovate a product or service.
Course: Entrepreneurship, Advanced (12053-II) > Section: Maintaining an Entrepreneurial Business

Innovation should include

- analyzing sales (i.e., comparing actual to projected)
- analyzing competitors' products/services
- researching new products in the market
- researching customer feedback on current products in the market
- developing product/service evaluation survey for customers
- soliciting user experience
- improving product/service based on customer feedback.

Process/Skill Questions:

- What are examples of changes businesses make to products?
- What are effects of changing a product?
- What are factors businesses consider before adding new products?
- How do product planning and development benefit the consumer?
- How do consumers' needs and wants lead to new and improved products?
- How do environmental issues and green marketing influence product planning?
- How does a business determine whether a product or service meets the requirements of a particular market and yields enough profit to justify its continued existence?
- How can a business use online reviews and customer feedback to elevate its product/service?