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Marketing Innovation and Strategic Competitive Advantage

Added on - 03 Feb 2020

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Marketing Design and Innovation
TABLE OF CONTENTINTRODUCTION................................................................................................................................3TASK 1.................................................................................................................................................31.1 Marketing innovation and strategic competitive advantage...............................................31.2 Relative importance of marketing innovation & strategic competitive advantage.............4TASK 2.................................................................................................................................................52.1 Consumer trends.................................................................................................................52.2 Launch of a new product....................................................................................................62.3 Market performance of the new product/brand..................................................................6CONCLUSION....................................................................................................................................8REFERENCES.....................................................................................................................................9
INTRODUCTIONMarketing has been considered as one of the important aspect by business organisationspecially to those who have been into the business of sales and marketing. It is a necessary jobfor the company to determine the taste and fashion which has been prevailing in market andamong the people. That shall help the company for launch of any kind of product. as thecompany has been dealing in marketing so it is very important to focus on innovations which areincurred in market. The following project has a detailed description about how innovation aretaken to be one of the considerable principle in company. The project shall also try to highlightdevelopments which has been undertaken by a company by including different kinds ofstrategies. One of the main focus of projects is on development and employment skill to beincurred, which is very important for any kind of company.TASK 11.1 Marketing innovation and strategic competitive advantageIt has been seen that marketing of any product is an essential key element. Marketing isimportant because it shall create a point of awareness between the people regarding the product.(Wrigley, 2013.)If a personcometo know about the product then it is impossible for him to availservices regarding the same that is why it is really important for any business organisation tocarry out the procedure of marketing. There are many traditional ways by which any companycan carry out the marketing programme and make the people aware about it. But as the time hasbeen changing it became necessary to make certain innovation the way marketing has been done.The marketing rule of business states that, (Davenport, 2013).itshall be done in such a mannerthat it should attract the people to buy their services that is why it is important to make certaininnovation or changes in the marketing. With the access of different innovation a company shallbe able to protect its strategies regarding its sales and profits. Even in the earlier times marketinghas to be carried out by different business organisation in order to make their product morepopular among public. It is very important for the business organisation to make people aware oftheir product, now and then. If people shall not came to know about what product has beenlaunched by company, then it became a tough job for business organisation to promote the saleof the product. As not much usage of technology was there in earlier times that is why employershas to choose all traditional ways for marketing. But with the time several new innovations has
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