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The development and market introduction of a new, redesigned or substantially improved good or service. Examples of product innovation by a business might include a new product's invention; technical specification and quality improvements made to a product; or the inclusion of new components, materials or desirable functions into an existing product.. What are product service codes?Also referred to as federal supply codes, product service codes are used by the United States government to describe the products, services, and research and development purchased by the government.. Serving customers in technology, energy, medical and industrial markets worldwide with a unique portfolio of products, services and solutions, providing atmospheric gases, process and specialty gases..
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