In an attempt to eliminate spectacles from the market, Lensamt, a company that manufactures and supplies contact lenses, launched an advertising campaign to popularize its products. To counter this and stay in the market, the spectacle manufacturers introduced new offers and discounts on spectacles. In the context of innovation streams, which of the following concepts does this scenario best illustrate?
A) Design competition
B) Technological lockout
C) Technological substitution
D) Design iteration

Question

Quizplus · Accepted Answer

This scenario illustrates "Design competition" as both companies are competing by innovating and offering new products or incentives to attract customers.

In an Attempt to Eliminate Spectacles from the Market, Lensamt