Invention vs Innovation Many up-and-coming entrepreneurs or even professionals are under the impression that invention and innovation are ONE and the SAME. They are not! There is a very important distinction

1. Invention vs Innovation
A BRIEF ON THE ACCEPTED CONCEPTS WITH RESPECT TO POM
SARFARAZ SARWAR KHAN
DIT, BSIT, MBA, MS (Supply Chain)
Certified Professional Marketer (Asia Pacific)
Marketing Association of Pakistan
Cell: 0300-2111257 | Email: sarfarazpk@gmail.com
Principles Of Marketing
Session -1

2. Invention and Innovation
Are these same?
 Many up-and-coming entrepreneurs or even professionals are
under the impression that invention and innovation are ONE and
the SAME.
 They are not!
 There is a very important distinction

3. INVENTION VS INNOVATION
 In its purest sense, "invention" can be defined
as the creation of a product or introduction of a
process for the first time.
 "Innovation," on the other hand, occurs if
someone improves on or makes a significant
contribution to an existing product, process or
service.
THE DIFFERENCE

4. Example –
Industrial Product
 Consider the microprocessor. Someone invented the
microprocessor. But by itself, the microprocessor was
nothing more than another piece on the circuit board.
 It's what was done with that piece -- the hundreds of
thousands of products, processes and services that
evolved from the invention of the microprocessor -- that
was innovation.
Intel 4004
November 15, 1971

5. Example –
Consumer Product
 Launched in competition of LUQMANI MANJAN
 Identified need of SOPHISTICATED consumers
 Educated on using this product
 With or Without Brush
 Repositioning
 Visuals
 First - Second - Third - Fourth

6. Examples
 Lets share some nostalgia…
Managers (Name some obsoleted products)
Visuals

7. Difference between ….
Marketing
Sales

8. Why we are studying IMC?
Audience…?
Speaker…?
Conclusion!

9. SARFARAZ SARWAR KHAN
DIT, BSIT, MBA, MS (Supply Chain)
Certified Professional Marketer (Asia Pacific)
Marketing Association of Pakistan
Cell: 0300-2111257 | Email: sarfarazpk@gmail.com
Q&A Session