product innovation

Popular Terms
The development and market introduction of a new, redesigned or substantially improved good or service. Examples of product innovation by a business might include a new product's invention; technical specification and quality improvements made to a product; or the inclusion of new components, materials or desirable functions into an existing product.

Use 'product innovation' in a Sentence

The owner of the ice cream shop in town decided on a product innovation by changing the recipe for her ice cream cakes, using more natural ingredients rather than artificial.
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They credited Paul with improving the product innovation. His idea to add a large motor was what caused this huge uptick in sales.
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Amazon is a leader in product innovation because the company is always researching and implementing new features and ideas that enhance the experience for their users and customers.
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