Question:medium
Shivam is manufacturing hair straightening flat irons and supplying them to various beauty salons across the city. Over the last few months he observed that the sale of flat irons has decreased drastically. He tried to find out the reason. He found that the hair experts have started recommending ceramic irons which are now being sold by competitors in the market. So, he also started manufacturing ceramic irons based on new technology with added features like curling, crimping, etc.
Identify the source of idea field used by Shivam:
Shivam is manufacturing hair straightening flat irons and supplying them to various beauty salons across the city. Over the last few months he observed that the sale of flat irons has decreased drastically. He tried to find out the reason. He found that the hair experts have started recommending ceramic irons which are now being sold by competitors in the market. So, he also started manufacturing ceramic irons based on new technology with added features like curling, crimping, etc.
Identify the source of idea field used by Shivam:
Updated On: Jan 14, 2026
- Trading Related ideas
- Existing Products or Services-Based ideas
- Service Sector ideas
- Market Driven or Demand Driven ideas
Show Solution
The Correct Option is B
Solution and Explanation
Shivam enhanced his product (ceramic irons) by analyzing market-leading professional recommendations and integrating new technologies like curling and crimping. This innovation aligns with the concept of "Existing Products or Services-Based ideas," which emphasizes improvement driven by observing and evolving established offerings. The other categories are less relevant: "Trading Related Ideas" concern commerce, "Service Sector Ideas" apply to services, and "Market Driven Ideas" focus on broader trends rather than direct product enhancement. Therefore, (B) Existing Products or Services-Based ideas is the most fitting classification.
Existing Products-Based Ideas: Involves enhancing current products with new features or technology.
Trading Related Ideas: Pertains to the buying and selling of products.
Service Sector Ideas: Relates to service-oriented businesses.
Market Driven Ideas: Centers on general market trends and consumer demands. Thus, the most appropriate answer is (B) Existing Products or Services-Based ideas.
Existing Products-Based Ideas: Involves enhancing current products with new features or technology.
Trading Related Ideas: Pertains to the buying and selling of products.
Service Sector Ideas: Relates to service-oriented businesses.
Market Driven Ideas: Centers on general market trends and consumer demands. Thus, the most appropriate answer is (B) Existing Products or Services-Based ideas.
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