what is incremental innovation

what is incremental innovation

1 year ago 30
Nature

Incremental innovation refers to a series of small improvements or upgrades made to a companys existing products, services, processes, or methods. The changes implemented through incremental innovation are usually focused on improving an existing products development efficiency, productivity, and competitive differentiation. Incremental innovation is a common tactic in the consumer technology industry, as companies strive to regularly improve personal devices with customer-friendly features. The opposite of incremental innovation is radical or disruptive innovation, which introduces a brand new product or service designed to replace an existing one. Incremental innovation has become a major factor in determining modern enterprises longevity and success, and it has a powerful cumulative impact on the internal processes and productivity of a company. The benefits of incremental innovation include prolonging the market life of a product or service, continually reminding consumers of a company, and enabling companies to more quickly and easily differentiate from competitors and maintain or improve their market position.

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