iii Give 3 examples involving firms that have lead diffusion

iii. Give 3 examples involving firms that have lead diffusion of some innovation and why these represent good examples of diffusion,

Solution

Innovation is what makes an industry thrive and grow. Some of the good examples of such innovation would include:1. Apple: The Apple innvovations have been revolutionary and they have transformed the world of smartphones and laptops. They have also created a certain creed of consumer loyalty. This innovation has led other smartphone brands to follow suit and and launch their oen brands. 2. In the Pharma industry as well, companies like Merck and Novartis have come up with their own plans and patents which have allowed new qualities of drugs to be developed and used widely. These ideas have been matched in certain ways by various other smaller pharma companies.3. In the automobile industry as well, Chrysler and Volkswagon have led the way and they have laid down some crucial methods of manufacture in production lines and also marketing standards. These innovations have been replicated by several other auto companies in their production processes.