Essay about Innovation Management and Market in Global Enterprises

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Innovation Management and Marketing in Global Enterprises by Ersun and Karabulut (2013) is an article that presents varying positions of several writers on the importance of establishing innovative strategies in developing and managing new product and markets in the global business communities. The concept of innovation in this article is defined in terms of products, processes, marketing and management practices. The product of innovative strategies as outlined in the article is understood to impact the product’s value to the end-user in the form of increased customer appeal and utility, and to the business entity in the form of increased revenue. Extending and sustaining the market base is the desired end result of the innovative…show more content…
As stated, innovated strategies and the implementation of such has been seen to be very important in augmenting competition among companies in the global market place. The product quality is obviously an important factor in customer appeal. However, “studies about value of innovation for a company reveal that marketing activities have positive influences on new product success Cooper and Kleinschmidt (1987, 1993, 2000). Competition among companies marketing similar product lines must be innovative in their approach in reaching the consumer. Gardener (2000) believe that requirements lead companies to formulate different marketing strategies; and Melnyk and Dehtyarova (2012) explain that innovative marketing measures lead company survival under global competition. As a result, marketing activities must include a strategy that considers the development of innovative strategies that precede the development of the product. These strategies must absolutely consider consumer behavior in order to persuade the perspective customer base to value the marketed product. The process by which this is implemented is through the development of new innovative marketing tools and methods of production, developing new innovative ways of gathering information about what appeal to the end-user through innovative marketing programs and technologies. This provides the companies the opportunity to find

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