What Is The Relation Between Marketing and Innovation?

While marketing methods are getting more diversified, innovation is the most important factor that differentiates brands. Then, what does marketing innovation mean?

What Is The Relation Between Marketing and Innovation?

Marketing is defined as the process carried out by producers or service providers to determine which products or services will attract the attention of consumers and meet their needs, and which is carried out in order to increase sales and is supported by promotion and communication studies after feasibility studies based on a certain frameworkInnovation is literally expressed as the new method in a social, cultural, and administrative environment to adapt to changing conditions. In this case, marketing innovation can be explained as the  new applications are created to promote products or services to increase sales. Specifically, it can also be considered as making the existing product or service acquire new features with certain methods and offer unique solutions to the needs of a wide range of people.

What is marketing innovation?

Although creativity is one of the main pillars on which marketing innovation rests, its scope is not limited to this. It should make a new proposal to the masses through the product or service. Besides, the high commercial potential of the underlying idea is indispensable. All these complementary elements are the points that distinguish an innovative brand from its competitors.

The ultimate goal in marketing innovation is to increase customer satisfaction and, of course, to increase its market share by making more sales, as in every commercial activity. In this process, the product or service is not only developed; to create a new, facilitating, and concrete promise to the consumer at every point from packaging to advertising.

More Than A Phone: Smartphones

For example, the emergence of smartphones that revolutionized our lives is one of the great examples of this. Voice communication, which was the main function of the phone preserved and the features of the palm devices, known as palmtop computers at that time, were integrated into it in a much more developed manner.

Cumbersome dimensions and limited features of palm devices have been far exceeded, and a completely different device has emerged by combining with the classic mobile phone features. But more importantly, the smartphone was designed to be open to innovation and development both in terms of operating system and functionality. The dominance of mobile devices in our lives today is partly due to the production of this structure to be open to change at all times. This device brings mobile applications into our lives; Instant messaging, mobile shopping, social media, e-learning, mobile banking, health applications, and many more innovations made possible. Thus, it showed how commercially efficient it is based on.

How did innovation affect the marketing process?

In today's world, the marketing processes between the producer and the consumer have changed significantly compared to the past. Especially thedigital transformation, which occurred as the most effective result of globalization, reversed the marketing process that brands used to be one-sided and imperative.

The fact that customer satisfaction is the dominant factor both before and after-sales, the sharpening of competition on both product and price basis and the increasing variety of promotions gave the ropes to the hands of the consumers. Consequently, brands and manufacturers had to develop new marketing methods to increase their sales. In this transition period when brands focused on experience diverged over time, innovation has become the most important variable today. Classic marketing methods had already come to an end. Because consumer behavior began to determine which product will be sold where to whom, at which price, and in what way. Of course, it was inevitable that this would reflect on pre-sales processes. As a matter of fact, R&D stages, changes in the production line, ensuring the sustainability of the product in the market, etc. other points naturally got their share from this change.

How does innovation relate to the marketing process?

In today's world, the marketing process between the producer and the consumer have changed significantly compared to the past. Digital transformation, which occurred as the most effective result of globalization, reversed the marketing processes that brands used to be one-sided and imperative.

The fact that customer satisfaction is the dominant factor both before and after-sales, the sharpening of competition on both product and price basis, and the increasing variety of promotions make the consumers stronger. Consequently, brands and manufacturers had to develop new marketing methods to increase their sales. In this transition period when brands focused on experience diverged over time,innovationhas become the most important variable today. Classic marketing methods had already come to an end. Because consumer behavior began to determine which product will be sold where to whom, at which price, and in what way.

Of course, it was inevitable that this would reflect on pre-sales processes. As a matter of fact, R&D stages, changes in the production line, ensuring the sustainability of the product in the market, etc. affected the brands.

What are examples of successful marketing innovation?

Marketing tactics have become quite different and stimulating in today's world, with the support of technology and pioneering innovation-oriented thinking. Accordingly, many inspiring successful examples have emerged. Three popular examples for this below :

1- Apple: When we look at the marketing processes of Apple, which is the most valuable brand in the world, it is easy to see where innovation can take a brand. Apple, which has products that are considered quite expensive today, can still keep hundreds of millions of people in queues during product launch periods; While still in pre-order, it attracts enough attention to have stock problems. The brand, which knows its customer base very well, uses this for its marketing strategy that there are neither 'notebooks' nor noteboonl for Apple users today; it is a mobile device that should always be identified as a MacBook. The sense of being prestigious is so common among Apple fans that almost every Apple product has become an essential part of their personal image.

2- IKEA: 20 years ago, took them to consumers in Turkey furniture pieces home after they say he completely assembled there by the labor to install them, probably no one would approach it. Today, IKEA stands out as a brand that has achieved this with its brand identity open to innovations. Swedish furniture brand offered a unique experience to its customers, thanks to augmented reality (AR)technology! 

IKEA helped their customers how the products would look at their home, and increased the sales. IKEA takes this point as insight and put it into practice in a great way; It proved how a little innovative development can be effective in the marketing process.

3- L'oréal: L'oréal, one of the biggest cosmetic brands known worldwide, also realized a project similar to the work done by IKEA. The brand focused on customers who had difficulty in making a purchasing decision because they did not know the effect the products offered for sale would have on their faces. For this, he designed a mobile application called L’Oreal Makeup Genius. Thus, consumers tried virtually the products before purchasing, thanks to this application that combines the product they intend to use and their faces. The application was downloaded by more than 7 million users, proved the innovative identity of the brand. This situation also showed how much L'oréal is confident in its products.

Innovation has become an indispensable element of the marketing process and has even become a marketing method on its own. This is also true for activities that have been transferred to the digital environment due to the decrease in physical space using, especially during the coronavirus pandemic. Infrastructures that convert the opportunities of physical fields to the digital environment are more useful. They support the companies or brands to reach more people with less cost. So, the producers and brands began to be differentiated from the others.

Endless Fairs offers digital areas and designs tailored to their needs to all brands and organizations looking for a strong technical infrastructure for corporate virtual events. Instant communication with larger visitor audiences at lower costs, downloadable marketing documents, meeting with appointments, etc. It provides all the advantages of digital activities to its customers by implementing many innovations. You too, virtual fair, webinar (webinar), award ceremonies, conferences, etc. your activities much more comfortable; You can contact Endless Fairs for your efficient digital activities that you can easily manage on your mobile devices and computer without large-scale expenses such as transportation and logistics.