What is Innovation and can businesses encourage it Essay Example for Free

What is Innovation and can businesses encourage it EssayInnovation in business is the application of new ideas in any business process. This includes the products produced and the firms processes. It is therefore important for business to encourage universe to enable them to be sustainable in the grocery in the long run CITATION Mar98 l 1033 (Mark, 1998). securities industrying ResearchOne of the key writings of marketing is for an organization to efficient, timely and client-centered care and allows customers to easily make the honest decisions. Marketing places emphasis on organizations sharing information with each other and working together in secure areas. It also provides updated information on passing specialized matters that are to be delivered immediately to the right place. Marketing is the source for all information for step-change in service delivery. Fairness is a key theme of the legal and ethical frame works of marketing. It proposes that consumers will likel y compare their situations with other customers to ensure fairness. Fairness enables marketers to predict the responses of consumers to marketing actions. Marketers should able to contraryiate among procedural and distributive justice to understand how consumers perceive fairness. Making fair decisions requires marketers to have forethought and intelligence to make a sale. It is wise to develop the moral fibers of fairness, because ethical problems often bite into profits CITATION She07 l 1033 (Shelton, Epstein, Davila, 2007).For example it is unethical to sell a product or service to consumers at different prices, with an aim of gaining financial wages. When containing a marketing transaction, it is unethical to charge an unreasonable price to a consumer. Every consumer expects to be treated fairly as this reflects on the overall corporate image of an organization. Ethical marketing efforts and decisions should suit and meet the needs of consumers, business fateners and suppl iers. Competitive analysis is essential in marketing as it helps a company to access any combative threats to its development and penetration of the walk-in market. The organization is bound to enjoy a significant competitive advantage over any competitor who would try to penetrate the walk-in market. This assessment which is based uponthe companys source of competitive edge stems from extensive customer list, qualified management personnel, in-depth knowledge and expertise of the marketing industry. An example of this is the marketing research conducted by Apple Inc. before the rolling out of their products into the global market. They conduct thorough research on the consumers and come up with progressive products for the customers CITATION Jas09 l 1033 (Jason, Kenneth, Greg, 2009).Research and DevelopmentMarketing mix-promotional strategies also contribute to successful execution of instrument with the right marketing delivered to the right consumers at the right time. Market ing has to be on-going to strengthen interest and promotional and multi-level to draw attention to progress of the company. Success of a company will depend on the support and contributions the partner organizations that are involved. The contribution and support succeeds if the individual partner companies feel they have benefits from the collaboration.Target Market is a key deliverable in marketing that can be used by Apple Inc. to establish an appropriate market for each segment. For level best powerfulness, marketing to their clients should be targeted carefully to suit each of them comfortably. It must also be a frequent, consistent and on-going process throughout the lifecycle of the zoo. The available information has to be up-to-date and reliable. Apple can segment its market by focusing on the demographic variables of its clients. These include social class, gender, income, age and family lifecycle. This will give them competitive advantage since there will be a wide varie ty of data that will make it possible to measure consumer preferences for the activities in the zoo. Segmenting the target market based on demographic variables, will have a direct impact on the interests of the clients in zoo go CITATION How10 l 1033 (How is Google innovative? , 2010). The mechanisms for target marketing should be selected from the zoo sources depending on the audience and objectives each marketing piece. This will give the marketing team at Apple Inc. a thorough understanding of how often and how their clients use their services. Apple Inc.s target market should be based on social class. This will ensure utmost effectiveness which is important since it reinforces the value of the benefits and gaining additional support. The using social class as their target market is to effect information sharing and to develop an effective collaborative model that can be replicated across its diverse services. Target marketing will allow the marketing team to maintain the effe ctiveness of its services through transition and influence clients of their target market to participate through the forums and avenues provided.Staff BenefitsThere are several benefits of innovation to the staff of any business. Of exceptional importance is the freedom of expression where the staffs are allowed to be creative and offer some of their ideas to the management. In the process of doing so it makes the staff motivated as it makes them part of the process of creation of ideas in the business. Google Inc. for instance allows its employees and staff to participate in the innovative process hence the creation of some of its successful products. In closing curtain this essay explore the importance of innovativeness in any business and how it propels the business to unlevelled heights of success as seen in the example of Apple Inc. and Google CITATION She07 l 1033 (Shelton, Epstein, Davila, 2007).ReferencesForrant, R. (2011). Approaches to Sustainable Development The Public University in the Regional Economy. Massachusetts Univ of Massachusetts Press.How is Google innovative? . (2010). Retrieved 2014, from Netease http//money.163.com/10/0331/10/633K6P9700253VNE.htmlJason, D., Kenneth, L., Greg, L. (2009). Who captures value in a global innovation network? the case of Apples iPod.Mark, R. (1998). The definition and measurement of innovation Report No. 10-98. Melbourne Melbourne institute working paper.Shelton, R. D., Epstein, M. J., Davila, T. (2007). The Creative Enterprise. New York Greenwood Publishing Group.Thomas, H. (2008). Reverse EngineeringGoogles InnovationMachine.Source document