The concepts described on these pages are words and expressions used in statistics with a specific, limited meaning. In everyday speech the word may have a different meaning. In connection with each definition you can find information about which sets of statistics use the concept.
If you are looking for statistical figures, go from the definition to the statistics page.
Product innovation
A product innovation is a new or improved good or service that differs significantly from the firm’s previous goods or services and which has been implemented on the market.
Product innovations include significant changes to the design of products, and digital goods or services.
Product innovations exclude the simple re-sale of new goods, and changes of a solely aesthetic nature
Statistics using the definition
Validity of the definition
- Valid
A product innovation refers to a new or essentially improved good or service brought to market by an enterprise. A new or significantly improved good or service differs from previously produced goods or services with respect to its characteristics (e.g. significant improvements in technical specifications, components and materials, incorporated software, user friendliness or other functional characteristics).
The good or service must be new to the enterprise or significantly improved from its point of view, but it does not have to be new to the market the enterprise operates in. The developer of the innovation can be the enterprise in question or other enterprises.
Statistics using the definition
Validity of the definition
- 1 January 2008 - 31 December 2015
Source organisation
- Tilastokeskus
Related concepts
Jaa