Innovation in marketing
Register no. : 24220805
Name : b. naren
Year : iii year
Department : diploma in automobile engineering
Topic : Innovation marketing
Date :01.07.2025
College name : Rajagopal polytechnic college
AGENDA:
➢ Introduction to Marketing
➢ Understanding Innovation
➢ What is Innovation Marketing?
➢ Types of Innovation Marketing
➢ Uses and Applications
➢ Advantages and Disadvantages
➢ Key features of Innovation Marketing
➢ Important tools of Innovation Marketing
➢ Conclusion
INTRODUCTION TO MARKETING:
❖ Marketing is the process of communicating the value of a
product or services to customers.
❖ The process of promoting, selling, and distributing a product or
a service.
❖It includes the coordination of four elements called the 4 P’s of
marketing:
1. Product
2. Price
3. Promotion
4. Place(distribution)
UNDERSTANDING INNOVATION:
❖The term innovation refers to a new way of doing something.
❖The creation or improvement of products, services, or processes
that deliver new value to customers.
❖An innovation is viewed as anything new that solves needs by
offering
a significant advantage(e.g., more features, lower cost, etc… )
WHAT IS INNOVATION MARKETING?
❖ A new marketing method involving significant changes
in product design or packing, product placement,
product promotion or pricing.
❖A marketing strategy focused on promoting new,
improved or disruptive products and services.
❖For example,
Amazon was the first established online books seller.
TYPES OF INNOVATION MARKETING:
❖There are many types of innovation marketing.
❖They are,
1. Product Innovation Marketing.
2. Process Innovation Marketing.
3. Service Innovation Marketing.
4. Sustainable Innovation Marketing.
USES AND APPLICATIONS:
❖Launching new products/services.
❖Reaching new market segments.
❖Increasing customer loyalty.
❖Differentiating from competitors.
❖Educating consumers about novel solutions.
Advantages and Disadvantages:
Advantages:
❖ Drives brand differentiation.
❖ Attracts early adopters.
❖ Enhances customer engagement.
❖ Encourages growth and innovation culture.
Disadvantages:
❖ High costs and risks.
❖ Market resistance to change.
❖ Need for constant updates and R&D.
❖ Difficulty in educating the market.
Key Features of Innovation Marketing:
❖Customer-focused design.
❖Agile and adaptive methods.
❖Emphasis on storytelling.
❖Use of digital and emerging tech.
❖Integration with R&D and product teams
Important Tools of Innovation Marketing:
❖ CRM Tools – Track and manage customer data.
➢ Example: HubSpot, Salesforce.
❖ AI Tools – Generate content, analyze trends.
➢ Example: ChatGPT, Jasper.
❖ Social Media Platforms – Promote and engage directly.
➢ Example: Instagram, Facebook.
❖ Analytics Tools – Guide decisions.
➢ Example: Google Analytics, Tableau.
Conclusion:
❖Innovation marketing is essential in today’s fast-changing
market.
❖It connects technological advancement with real
customer value.
❖Businesses that leverage innovation marketing gain a
competitive edge, higher engagement, and long-term
growth.
Thank you……..
