Marketing & Innovation in Business

This paper is based on the role of marketing and innovation in business. Marketing and innovation play a very important role in business. A business cannot be run without marketing and innovation. In the present scenario, there is too much competition. To cope up with such competition the strong marketing strategies are needed. Now every organization is coming up with innovative and distinct products. So to start up new business innovative techniques are also required. With innovation there comes creativity. So every organization needs to produce or create new innovative products to survive in the present competitive environment. When a new firm starts its business, advertising helps the firm in introducing the firm's products in the market. Advertising is also the part of marketing. It is done through various media such as Broadcast media (T.V, Radio) or Print media (Newspaper, Magazine) etc. With advertising many people come to know about new products of a new enterprise and start using those products. With this, a new firm's sale increases and it generates a lot of profit from its business. Thus Marketing helps in starting up of a new business. Like Marketing, Innovation also helps in starting up of a new enterprise and running its business. When an entrepreneur starts its business, he needs a lot of new innovative and creative ideas so that he might produce a new distinct product in the market and might capture the maximum share of the market. With the help of innovation an entrepreneur successfully runs its business and enjoys with earning a lot of profit from the market. With innovative marketing an enterprise can become a market leader.