MANAGEMENT

Detailed explanation-1: -Innovation in marketing is an activity that involves new ideas that have a positive impact to a new product and service. Marketing is a process that involves marketers to communicate product and service information to consumers.

Detailed explanation-2: -A marketing innovation is the implementation of a new marketing method (marketing idea or strategy) that differs significantly from the previous marketing method used by the enterprise and that has not been previously used by the enterprise.

Detailed explanation-3: -Increases productivity One of the benefits of innovation in business is the increase in productivity of individuals, processes, and business models, among others. Simply put, innovation presents new ideas to business leaders to increase efficiency with minimum resources. Furthermore, reducing business and other risks.

Detailed explanation-4: -By means of innovation, businesses can improve the quality of their products, meet customer requirements, reduce imitation by their competitors, and increase profits.