Abstract:
Innovation is becoming more and more important in
modern society. There are a lot of researches on different kinds of
innovation but marketing innovation is one kind of innovation that
has not been studied frequently before. Marketing innovation is
defined as a new way in which companies can market themselves to
potential or existing customers.
The study shows some key elements for marketing innovation that
are worth paying attention to when implementing marketing
innovation projects. Examples of such key elements are: paying
attention to the neglected market, suitable market segmentatio
reliable market information, public relationship, increased customer
value, combination of market factors, explore different marketing
channels and the use of technology in combination with what? Beside
the key elements for marketing innovation, we also present some
risks that may occur, such as cost, market uncertainty, information
leakage, imitation and overdependence on experience.
By proposing a set of indicators to measure marketing innovation,
the article offers solutions for marketing innovation implementation
so that any organization can achieve optimal results.