What is innovation?

Innovation merges invention with a strategic marketing approach.

Innovation is the process of developing or refining a product before introducing it to the market. It can take many forms, including groundbreaking products, services, processes, or business models.

However, people don’t buy products—they buy solutions, experiences, convenience, savings, security, freedom, entertainment, prestige, and more. That’s why creating value from the customer’s perspective is crucial, addressing their most pressing needs.

Companies must determine which features make a product appealing to consumers. In recent years, demand for sustainable options has surged, with customers increasingly seeking environmentally friendly products—and often willing to pay a premium for them.