INNOVATION MANAGEMENT

ACTIVITY NO. 3
Building innovation

Product innovation

Product innovation is the overarching management framework for making incremental changes and
improvements to products, services, and processes. It includes the conceptualization, design, development,
validation, and commercialization of new products for customers and markets in concert with the prevailing
conditions and trends. Product innovation involves the creative responses and solutions for meeting the needs
and expectations of customers and market(s), the driving forces in the business environment, and the strategic
requirements of the organization.
As the world changes and improves over time the same as the need/wants and preferences of the market.
So as young Entrepreneurs develop/innovate a product that you think would appeal to the market (either
local/national).

1) Conceptualize on the product that you want to innovate.

2) Create the product’s name
3) Describe the nature of the product.
4) Create the product’s logo