There are a few reasons why incorporating innovative aspects into standards can be beneficial for market success.
First, incorporating innovative aspects into standards can help to facilitate the spread of best practices within an industry. This is because it allows different players in the market to adopt and use the same standard as a reference point. This makes it easier for businesses to comparably assess their relative performance against others in the market, and ultimately leads to better innovation and better productivity overall.
Second, incorporating innovative aspects into standards can help to improve the product’s overall marketability. By encouraging innovation and providing consumers with new options, standards can attract more users and eventually lead to increased demand for the product. In addition, by setting a high quality benchmark, innovators may be more likely to enter the market and challenge existing providers of goods and services. This can result in even greater innovation and improvements for all concerned.
In conclusion, implementing innovative aspects into standards can be a crucial factor in