Questions: Redesigning packaging would be considered a(n) on the innovation matrix.
essential innovation
core innovation
adjacent innovation
transformational innovation
Transcript text: Redesigning packaging would be considered a(n) on the innovation matrix.
essential innovation
core innovation
adjacent innovation
transformational innovation
Solution
The answer is: adjacent innovation.
Explanation for each option:
Essential innovation: This typically refers to fundamental changes that are necessary for the survival or basic functioning of a product or service. Redesigning packaging does not usually fall into this category as it is not essential for the core functionality of the product.
Core innovation: This involves improvements or changes to existing products or services that are central to a company's offerings. While redesigning packaging can be important, it is not typically considered a core innovation because it does not change the core product itself.
Adjacent innovation: This refers to expanding into new areas that are related to the existing business. Redesigning packaging can be seen as an adjacent innovation because it involves making changes that can open up new markets or improve the product's appeal without altering the core product.
Transformational innovation: This involves creating entirely new products, services, or markets that can transform the business. Redesigning packaging is not usually transformational as it does not create a new market or fundamentally change the business model.
Summary:
Redesigning packaging would be considered an adjacent innovation on the innovation matrix.