Definition: Product innovation

Research and development

A product innovation is a product (good or service), which is either new or significantly improved with respect to its fundamental characteristics, technical specifications, incorporated software or other immaterial components, intended uses, or user friendliness. Changes of a solely aesthetic nature are not included.
Source:
Eurostat, "Science, technology and innovation in Europe", Statistics in Focus, Science and Technology, 8/2005, Luxembourg, 2005
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