IN BRIEF
Innovation should be the key element in your business strategy.
However, innovation only has commercial value when it satisfies the
needs of your target markets. By satisfying your customer's
needs in a unique way, innovation provides not only increased
revenue but also justifies higher margins which can be the engine
for the future growth and profitability of your business.
MARKETING STRATEGY IN INNOVATION
The first step in an effective business plan lies in devising an
appropriate marketing strategy. The objective is to discover the
needs of the market and to set out to meet those needs in a unique
way. This is the essence of commercial innovation. Notice that the
process must always start with the market's needs. This is the
antithesis of the old misguided adage:
