RBI Grade B Officers 2011 dec Paper

Directions (192–195) : Read the following information and five statements given below it carefully and answer the questions which follow. Steve Jobs himself said it: “It’s smart to take an existing idea and enhance it beautifully.” Apple did it and so did some of the most successful brands worldwide. To be successful, it is not essential to innovate every time. Old stuff in new packaging helps as well and is often referred to as ‘imovation’ which is a combination of innovation and imitation.
(A) As an innovation is a standalone product in the market, it reaps in all the profit till the ‘imovators’ imitate it, ‘Imovation’, however, is not profitable as there are many imitated products in the market at the same time, all reducing each other’s profits.
(B) Brand X duplicated Brand Y’s mobile phones with exactly the same features and same price range but failed to make an impact in the market.
(C) No one remembers the innovators after some time because they did not turn their idea into success. On the other hand the imitators did what they had to just at the right time.
(D) While Sanfy invented portable MP3 players, it was Apple which enabled MP3 players to play videos and games at a fairly reasonable price, thus capturing the market.
(E) ‘Imovation’ is a lot less risky business venture. An imitator is already equipped with the analysis of how market received the innovation.