Report of the Management 2022

Running head:MANAGEMENT
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Name of the student
Name of the university
Author note

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Report title The significant importance of innovation on organizations towards
meeting the changing marketing trends
Industry partner Who is your industry partner?
Binary Trends is the industry partner, which is digital agency based in
Melbourne. It is a premium Google business partner that develops the
software.
Research field What is your research field/discipline?
The research will be conducted on marketing field. The research will
specifically focus on the scope on innovation to further explore the market
opportunities of organization.
Overarching
problem
What problems is your industry partner facing?
While analysing the current digital market trends, it can be noticed that
due to frequently changing needs of customers it has become challenging
for the companies to meet the expectation level of the customers (Tiddand
Bessant2018). Furthermore, it can also be said that market competition as
well as technological advancement are some of the cases, which are
creating barrier for the companies to make others understand regarding
its values, in this situation innovation become necessary. In such situation,
lack of innovation becomes a major hindrance for organizations to cope
up with all such market barriers.
What specific problem will your research project explore and try to
resolve?
The research will explore importance of innovation for organizations in

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solving the market barriers. Moreover, the focus on the research will be
on the way the organization can use innovation to customize their
products and services for being competitive in market. With strong ability
to manage the changes and innovation, organizations can bring
competencies in their business.
Why is it important to solve this problem?
Continuous innovation in the market makes the market saturated and it
increases the market competitiveness, which brings the opportunities for
small and medium sized organizations. In this situation, customer
satisfaction along with maintenance of the effective business practices has
become dependent on innovation strategies adopted by the company. In
this context, innovation is the only way of combining ideas in unique ways
to meet the specific customer needs.
Overarching
research aim
What does your research aim to explore/investigate?
The research paper aims to focus on analysing the emerging innovation
trends and its impact on the current marketing practices. Highlighting the
changing adoption capacity of individuals, the necessity of marketing
changes through the innovation has beendescribed.
Research
questions(s)
What are your research question(s?
 What are the emerging marketing trends faced by the companies?
 How innovation is important for organizations to meet changing
market trends?
 How organizations can better manage and implement innovation