Theodore Levitt argues that ________.
A)imitation is wrong and should be punished
B)product imitation might be as profitable as product innovation
C)innovation is not possible without substantial imitation
D)innovation cannot begin unless dissatisfaction with imitation occurs
E)imitation should be against the law because of the intellectual property decision involved

Question

Quizplus · Accepted Answer

Theodore Levitt argued that product imitation might be as profitable as product innovation. He believed that imitators can benefit from the innovators' expenses, while also being able to improve on the original product with their own ideas. Levitt famously said, "People don't want to buy a quarter-inch drill, they want a quarter-inch hole." In other words, customers are looking for a solution to their problem, and the imitator can provide that solution at a lower cost than the innovator. Therefore, product imitation can be just as profitable as product innovation.

Theodore Levitt Argues That ________