Abstract
Life cycle is the main essence that characterizes innovation and includes the period from their emergence to their end. The end is not a complete depletion of the life-span of innovation, but an innovative aging resulting from new innovative solutions created with better techno-economic indicators and higher efficiency. They in turn lead to decision-making about terminating the life of the innovation. This report looks at the life cycle of innovation and lifecycle of an innovative product. The lifecycle viewed in this way should distinguish between the life cycle of innovation and the life cycle of a product. In one product we can have several innovative solutions. In addition, the product's lifecycle is a concept that expresses sales and profits changes from product creation to marketing. However, they have many common ground. For example, when innovative solutions in the product become aged, there is a decline in sales due to a partial loss of competitiveness.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
