Jurnal Ekonomi
Vol. 11 No. 02 (2022): Jurnal Ekonomi, Periode September 2022

PRODUCT INNOVATION: MAINTAINING COMPETITIVENESS IN A COMPETITIVE MARKET

Dewi Indriani Jusuf (International Women University)



Article Info

Publish Date
30 Sep 2022

Abstract

Today's global market is characterized by increasingly fierce competition, with rapid changes in consumer preferences and technological advances. The aim of this research is to analyze how product innovation can be a key strategy for companies to remain relevant and superior in a changing market. This research uses a qualitative approach with descriptive methods. The research results show that product innovation has been proven to have a significant positive impact on the company's business growth and success. By continuing to develop innovative products that are responsive to market needs and consumer preferences, companies can increase revenue and profits, strengthen their brand image, and expand their market share. Product innovation also plays a crucial role in maintaining a company's competitiveness in a competitive market, by helping companies identify new opportunities, create product distinctiveness, and strengthen relationships with customers. Through a planned and integrated approach to product innovation, companies can remain major players in an ever-changing and dynamic industry.

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Journal Info

Abbrev

Ekonomi

Publisher

Subject

Economics, Econometrics & Finance Social Sciences

Description

Journal Ekonomi is a peer-reviewed journal that publishes scientific articles that are the results of original scientific research (top priority) and new scientific review articles (not priority) from various academics and researchers that have not been published elsewhere, including: 1. Accountancy ...