How is sustaining innovation defined?

Sustaining innovation is defined as a new product that meets consumers' existing needs. This type of innovation focuses on improving the performance of established products or services in ways that enhance their value to existing customers. Sustaining innovations typically do not create new markets but rather build on existing ones, providing enhancements that appeal to current users by addressing their ongoing requirements and preferences.

The significance of this concept lies in its role in ensuring a company's continued relevance and customer satisfaction by refining and optimizing their offerings. Companies often invest in sustaining innovations to maintain their competitive edge and to keep pace with incremental changes in consumer behavior and market dynamics.

In contrast, the other options present different forms of innovation. Major breakthroughs that change the market indicate disruptive or radical innovations, while inventions that fail to meet market demands do not achieve the intended purpose of innovation. An idea that disrupts current technologies aligns with the concept of disruptive innovation, which fundamentally changes market trajectories rather than sustaining them.