Managing Innovation in Business

Managing Innovation in
Business

Table of content
• Introduction
• Adaptation and standardisation of marketing mix
• CBBE model
• Integrated communication mix and methods
• Measurement of success
• CONCLUSION
• REFERENCES

INTRODUCTION
Innovation refers to a practice in which helps in development of creative and
new ideas for an organisation. Through the help of this organisations bring
in new products and services in market to expand their businesses to a
number of new nations. Following report is done for Tesco which is a chain
of supermarkets (Vom Brocke and Mendling, 2018). This report is developed
as an addition to the earlier report for innovations which can be brought in
by Tesco Plc. In this following report adaptation as well as standardisation of
marketing mix for expansion of company is discussed in this report.

Adaptation and standardization of
marketing mix
•Product: It is dependent on products and services of an organisation which explains how well these companies
meet all the requirements and needs of customers effectively. Tesco is carrying on extensive research in order to
enter into this new market. It has been developed that the customers in the region are looking for competitively
priced high-quality goods. They also prefer the goods which are produced in country itself.
•Price: This is the element of marketing mix which helps in generating revenues for the firm. It is often seen that
companies face a number of problems while setting up price for foreign markets rather than that of domestic
market. Company came up with strategies of local pricing for market under which customers had to pay less for a
range of products to the company.