Hi,

Product Innovation means creating new products with creative thinking or improving the existing version of a product that creates enough value for the customers to buy. Some of the examples of product innovation are-

Television- Once the television comes in black and white and the size of them was really large but now due to product innovation the size, as well as the color both has, changed and the watching experience has improved.

Computer- Lateral computers were slow, expensive, too large in size, now with the help of product innovation, they have been replaced by the laptop.

Suitcases- These have gone through the major change from handled carrying cases to the storage on wheels and now they are coming with Gps locator, Keyless Locks Bluetooth technology.

I hope you understand it well, still, you have any queries you can ask me in the comment section.

hey there,

Product innovation is the development and launch of a new product or service that directly affects the market it sells in. It can also develop improved versions of existing products in a market, enhancing the functionality or desire for an item by taking consumer feedback to make improvements or discovering additional features and technology to add.

Here are some examples of product Innovation-

1. Automobiles -