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Impact of Innovation in Marketing
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Added on 2020-05-28
Impact of Innovation in Marketing
Added on 2020-05-28
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Business Research Project OnEvaluating the role of marketing innovation to attractnew customers: A Study of Lycamobile UK
iiAbstractThe aim of the research is to find out the impact of innovation on the marketing techniques sothat it can attract new customers with respect to Lycamobile, UK as a case study. The impact ofglobalization has resulted in providing better platform for companies to market their productsin an innovative manner. It has also resulted in globalizing the products apart from the localconsumption. The rise of the similar organizations has resulted in offering similar products,which has created an impact on the way marketing is done. The strategies of marketing enablethe organizations in differentiating themselves from the competitors and the rise in theconstant innovative techniques has resulted in attracting the customers in a new manner. The‘literature review’ showcases different models and theories that can help in describing theinnovative marketing concepts and its importance through the different research scholars. Theuse of the concepts has also been aligned with the organization so that its performance can betaken in to account while conducting the research. The concepts of innovation in marketinghave also been highlighted so that the loyalty of the customers towards the organization can becontrolled properly. The research has also been carried out in a proper manner using thesuitable tools that have been justified in the methodology section of the research paper. Thereview of literature has highlighted that new services and products that needs to be offered tothe customers at regular intervals. This has resulted in creating proper images of the companyin the eye of the customers so that they can get attracted. It will also provide competitiveadvantage to the company in the market so that the sales can be increased.
iiiAcknowledgementThank you to all of those who have helped listened and encouraged me throughout this study.As a researcher, I am indebted to my supervisor Dr. Stefanie Hills whose guidance, advice andpatience have been immeasurable. My sincere thanks to all members of the University ofNorthampton, both staff and students, whose continuous support have made this thesispossible.I would like to thank all of the participants in the study: students, teachers and Local EducationAuthorities, for the time and help given throughout. Without their participation, this researchwould not have been possible. In addition to this, I am also grateful for the opportunity to readand learn from previous academic research in this area as I have educated and advanced myown knowledge.Finally, I thank my families, most especially to my husband, which whom this thesis would nothave been started or completed! Your encouragement and support have never faltered; thankyou.
1Table of Contents1.0 Introduction:..........................................................................................................................51.1. Background of the Study:.....................................................................................................61.2. Research Aims and Objectives:............................................................................................71.3. Research Questions:..............................................................................................................71.4 Problem Statement:................................................................................................................71.5. Rationale of the Study:.........................................................................................................81.6. Research Hypothesis:............................................................................................................91.7. Structure of the Dissertation:................................................................................................91.8. Chapter Summary:..............................................................................................................10Chapter 2: Literature Review.........................................................................................................112.0 Introduction:........................................................................................................................112.2 Concept of Marketing:.........................................................................................................122.3 Factors affecting marketing.................................................................................................132.4 Theory and model of marketing..........................................................................................152.4.1 7 P’s of marketing.............................................................................................................152.4.2 AIDA model of marketing................................................................................................172.5 Concept of Innovation:........................................................................................................182.6 Factors affecting innovation................................................................................................192.7 Types of Innovation.............................................................................................................20
22.7.1 Product Innovation............................................................................................................212.7.2 Process Innovation:...........................................................................................................212.7.3 Organisational Innovation:...............................................................................................222.7.4 Marketing Innovation:......................................................................................................232.8 Theodore Levitt Concept of Marketing Innovation:............................................................242.9 Relationship between Competition and Innovation:............................................................252.10 Relationship between Business Strategy, Technological Changes and Innovation:.........262.11 Importance of Marketing Innovation in Value Chain:......................................................272.12 Marketing Innovation Orientations....................................................................................282.13 Marketing Innovation Strategies........................................................................................292.14 Importance of Marketing Innovation:................................................................................292.15 Competitiveness of Brands:...............................................................................................302.16 Role of management in Marketing Innovation:.................................................................312.17 Chapter Summary:.............................................................................................................32Chapter 3: Research Methodology................................................................................................333.0 Introduction:........................................................................................................................333.1 Research Outline:.................................................................................................................333.1 Research Philosophy:...........................................................................................................343.1.1 Rationalizing the Election of Positivism Philosophy:......................................................353.2 Research Approach..............................................................................................................35
33.2.1 Rationalizing the Election of the Deductive Approach:...................................................363.3 Research Design:.................................................................................................................363.3.1 Rationalizing the Election of Descriptive Design:...........................................................373.4 Research Strategy:...............................................................................................................373.4.1 Rationalizing the Election of Survey Research Strategy:.................................................383.5 Sampling Technique and Sampling Size:............................................................................383.5.1 Rationalizing the Election of Random Probability Sampling Technique:........................393.6 Data Collection Technique:.................................................................................................393.6.1 Rationalizing the Election of Primary Data Collection Technique:.................................403.7 Data analysis Technique:.....................................................................................................403.7.1 Rationalizing the Election of SPSS:.................................................................................413.8 Ethical Considerations:........................................................................................................413.9 Research Limitations:..........................................................................................................423.10 Chapter Summary:.............................................................................................................42Chapter 4: Analysis and Findings..................................................................................................434.0 Introduction:........................................................................................................................434.1 Chapter Summary:...............................................................................................................79Chapter 5: Conclusion and Recommendations..............................................................................805.1 Conclusion:..........................................................................................................................805.2 Linking with Objectives:.....................................................................................................84
45.3 Recommendations:..............................................................................................................865.4 Future scope of the Study:...................................................................................................875.5 Summary:.............................................................................................................................88References......................................................................................................................................90
5Chapter 1: Introduction of Research1.0 Introduction:Marketing has gained huge importance in the past few years due to the increase inglobalization. Globalization has resulted in an increase in competition in the market not onlylocally but also globally. The presence of several organisations offerings more or less the sameproducts and services has resulted in the increase in the importance of marketing. Marketingstrategies enable the organisations to differentiate themselves from their competitors.Constant innovation in the marketing strategies enables the organisations to attract newcustomers and remain ahead of the competitors. This research study explains the role ofmarketing innovation for attracting new customers (Armstrong et al. 2015). By referring to the case of Lycamobile in the UK, this research aim towards analysing therole of marketing innovations in attracting new customers. Based on the aim, the researchassumes that there is a positive relationship between customer maximization by attracting newcustomers and the marketing innovation strategies. As a result, achieving the research andobjectives includes studying and analysing the reaction of the customers for Lycamobile, UK.This will provide an opportunity to address the marketing innovations strategies used byLycamobile followed by analyse the effectiveness of the strategies. Considering the researchaim and objectives, survey will be used as the primary data collection method. Thus, in order toanalyse the primary data, quantitative data analysis has been used that is represented by usingSPSS, a statistical software. In order to conclude well and prove the research aim andobjectives, the findings from the SPSS analysis has been discussed in accordance with theinformation provided in the literature review thereby, validating the findings of the research. In
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