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"Education is the most powerful weapon which you can use to change the world”
– Nelson Mandela

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Chapter 13 Short Answer

Chapter 13 Short Answer

Q • Starting a new discussion thread and answering directly in under 100 words. • Replying to your own discussion thread with two real-world examples of the practice discussed, each under 100 words. Label the examples as "Example 1" and "Example 2." You are able to review fellow group members' responses after creating your initial post. While the initial post should be completed individually, I encourage you to use each other as as a resource when thinking through applied examples. All submissions are due by Friday of the assigned week. Question: Describe the differences between functional and innovative products.

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The functional product is the items that are bought regularly. It can also consider being a staple. They are widely available in retail outlets. The grocery and convenience stores products can be considered functional products. They also have a predictable long life cycle due to their stability. The competition is also high during the low-profit margins. The innovative product can be considered as the new type of product to the market that can offer something different. This type of profit can also have a high type of profit margin. They also have unpredictable demand patterns. The product life cycle of the functional group is more than 2 years and in the Innovative group is 3 months to 1 year.