Innovation directly proportional to marketing
Different things attract different people, which is why innovation is needed to attract new consumers. Innovation opens new doors and expands the popularity of a company. For a company to stay in business for a long time they must change eventually because technology, people and places change over time.
Most of the world renowned companies people know today have changed since their grand openings. For example the company Coca Cola origins begin in 1886 when Coca Cola was first sold in pharmacies as medicine for 5 cents. Many decades later the Coca Cola Company is a world famous soft drink company that is sold in every popular country and city around the globe, in stores, restaurants and vending machines. Necessity is the mother of invention Many inventions have been created because there was once a need, or a demand for something to make life more convenient. Businesses have to create new inventions to meet costumers satisfied and always guessing what’s next.
A company that creates a new and unique innovation always is a step ahead and expands the company’s opportunities. Once a company comes out with an innovation everyone loves, other companies copy and make similar prototypes; however the original will always receive the most popularity because it’s the original. Innovation also includes advertisement; the company who presents their company the best will have more consumers. For example, the Coca Cola and Pepsi companies have been feuding for the top soft drink distributor for decades. Many of the products are so similar in taste, the only way for the companies to outdo each other is by presenting the world great advertisements such a television commercials.
For example Pepsi is known for legendary commercials with Michael Jackson, Beyonce, Pink and Brittany Spears. While Coca Cola don’t have many memorable commercials, therefore making Pepsi’s appearance grow popularity. Necessity of Innovation training for marketing managers Many companies associate themselves with or partner with other companies to gain popularity. For example, soft drink companies partner up with restaurant chains to be used at their establishment or beer companies partnering with football teams for advertisement during games and the super bowl. Leaders of companies have to make wise decisions with choosing what technology and programs they want to use and partner with and which programs will be the best for their business.
Computers and social media are a must in today’s business world because many; if not most people interact on the internet. Social media also comes in handy with advertisement as well. Innovations to interact with consumers is always the way to go because consumers want to voice their opinions towards the company. So many companies sponsor fundraisers and donation programs for good causes. They use communication skills to the public through television, social media, billboards and even the radio. Innovation helps businesses be more attractive consumers and increase sale rates, which is why innovation is always needed for a successful business management.