The only constant thing in the world is change, and marketing innovation is the best way of implementing this into reality. To know more details, visit us at : https://mitidinnovation.com/recreation/marketing-innovation-innovate-recreate-and-celebrate/

1. Marketing Innovation:
Innovate, Recreate and
Celebrate
MITID Innovation

2. Today, innovation is much more than just
new technologies, products, creations, or
methodologies. It is about the
interconnection between a product and a
user, between a person possessing the
ability to create wonders with the
ecosystem.

3. The two seemingly unrelated words,
“marketing” and “innovation,” have a
significant connection that is almost very
disadvantageous to ignore. They serve as
collateral assets to each other; an innovation
needs amazing marketing to succeed, while
marketing needs innovation for the success of
its products. Marketing Innovation, thus, is
the need of the hour to dive into the
constantly changing world with the progress
each day that does not see the sky as its limit.

4. The only constant thing in the world is
change, and marketing innovation is the
best way of implementing this into reality.
With significant changes in product design,
management, packaging, promotion,
placement, and pricing, marketing
innovation marks the change in marketing
strategies
What Exactly is Meant By
Marketing Innovation

5. that the enterprise previously used to
create a completely new and widespread
consumer base in the market. Routine
changes in marketing methods are not
considered as a marketing
innovation as they do not involve a
complete revolution in the marketing
methodologies.

6. One buys what one sees, and that is
exactly what innovation does to marketing.
Every single day is a host of discoveries
and inventions, with each one giving a
tough competition to the other. Hence, one
needs to know what appeals to their target
audience the most. Innovation can be seen
as rewarding exploitation of new ideas.
What is the Role of Innovation in
Marketing

7. To gain a competitive advantage in the
global marketplace, catalyzing innovative
ideas that enrich the very essence of an
enterprise can prove to be extremely
profitable. Through the right innovative
intervention, one can anticipate the emerging
consumer trends way ahead of time and lead
their way in the current demand-supply
chain. The 2011 Global Innovation report
found an 11% difference in the revenue in
favor of the more innovative organizations.

8. Is money everything when you want to
expand your enterprise? Not necessarily,
because just crazy creativity and out-of-the-
box thinking can do wonders!
Use Referral Marketing: This is a simple
yet effective marketing strategy. Here, you
get your buyers excited to share the news
of your startup and promote it extensively.
What are Some Innovative
Marketing Strategies

9. This concept works exceptionally since 92% of
people have shown to trust personal
recommendations more than any other
marketing strategy.
Discover your Target Audience: To establish
a large consumer base, you need to have an
explicit idea of what your ideal consumer looks
like. Centralizing your target audience and
optimizing your products based on their needs
and desires is the ultimate way of attracting
their attention towards your enterprise.

10. Incorporate Trends and
Challenges: Start a viral marketing
campaign and make your product the
center of attraction! All you need to do is
find the exact problem that your product
can solve and then turn it into a challenge
for others to tackle. You aim to make
people realize that your product is the
perfect go-to to solve the challenge.

11. MIT ID Innovation Programme curates
knowledge and experiences that
challenge the very paradigm of evolution.
And that's why we have set out to define
the future of industries, communities,
cities and ecosystems. MIT ID Innovation
offers the best Innovation Courses in
Pune and Design Thinking.
Conclusion

12. We’d love to
hear
from you.
MIT INSTITUTE OF DESIGN
Rajbaug,, Loni-Kalbhor, Pune-412201
innovation@mitid.edu.in
+91-7038982225 / +91 9834092369