innovation
Definition:
The commercial exploitation of an invention. Often used loosely to describe any object or idea which is peceived as new by the observer. In a marketing context inextricably linked with NEW PRODUCT DEVELOPMENT.
Cross-References:
[new product development (NPD)]
Links:
Figures:
© Westburn Publishers Ltd 2002, The Westburn Dictionary of Marketing edited by Michael J Baker, ISBN 978-0-946433-01-8. www.themarketingdictionary.com. Entry: [Michael J. Baker], [1998].