The paper "Innovation and Creativity in Organizations" is a great example of a Marketing Case Study. Marketing innovation translates into marketing promotion and functions, pricing, distribution in addition to processes aimed at creative product development (Doole and Lowe 2008). During the last decade, the value of marketing innovation attracted the interest of many scholars, particularly due to the proliferation of internet technology (Yannopoulos 2011; Silverstein 2001). In Doole and Loowe’ s (2008) review of the international marketing strategy, they provided evidence supporting the fact that marketing innovation promotes organizational performance. However, Anderson et al.
(2014) argue that in spite of the apparent significance of marketing innovation to businesses, it could still be observed that businesses traditionally focused on product innovation to improve their competitiveness and profitability globally. Despite an awareness of the profit possibilities of the creation of completely new and novel products and the processes of production, businesses have continued to be ignorant of the profit potentials of realizing customer value satisfaction by using innovative marketing schemes (Yannopoulos 2011; Silverstein 2001). According to Silverstein (2001), organizations may completely overlook marketing innovations or use them on a “ hit-or-miss” basis.
Indeed, this rationalizes the significance of this paper. Hence, this paper critically explores marketing innovation and its value contribution. It further critically evaluates the extent to which technological force from the marketing macro-environment influences the organisation’ s marketing strategy. Emphasis is placed on the internet. Section A Marketing innovation Innovation entails a set of processes that generate or create something new, which has considerable value to an individual or organization (Anderson et al. , 2014). According to Doole and Lowe (2008), the outcome of an innovation process is innovation. In which case, innovation entails the creation of an item that possesses significant value.
Tinoco (2010) adds that infinite valuable creative ideas exist; although they may lack significant value in the manner they are applied. Hence, they are not necessarily innovative. Innovation, therefore, has to have considerable value. Drawing from this, marketing innovation can be defined as the process of generating and implementing new ideas intended for creation, communication, and delivery of value to a business through the creation of lasting customer management and customer-business relationships (Babu et al. , 2013; Davenport & Mazalek 2004). Modern organizations and businesses today understand the importance of innovative ideas in their marketing structures, as their growth and survival of organizations is dependent on the extent to which they apply modern innovation.
Silverstein (2001) suggests that when businesses and their management look to survive and succeed in the long-run, they have to be innovative and continuously adjust their marketing efforts to new situations. Several innovations and developments in marketing have emerged during the recent past. An example includes video innovation, such as a socially integrated live-streaming video service called Meerkat (Dobush 2015).
Another popular innovation includes messaging apps, such as Facebook, Snapchat, Kit, and Whatsapp. In a practical business environment, an organization may share pictures regarding its brands via Snapchat. Another recent innovation is the smartwatch, which has apps, for music, shopping list, and maps, which can be targeted with marketing content. Marketers may as well build an e-mail nurturing campaign (Dobush 2015). Additional marketing innovations include paid advertising, social media interactions, SEO marketing, organic search, and content marketing.
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