Why Great Innovation Needs Great Marketing: Harvard Business Review (20 Feb)

WHY GREAT INNOVATION
NEEDS GREAT MARKETING
HARVARD BUSINESS REVIEW(20TH FEB)
SUBMITTED BY:
ADTYA PRATAP
SWETA SINGH
ADITYA PUNIA
SHAURYA ROY CHAUDHARY
REASONS WHY INNOVATION NEEDS
MARKETING
 Innovation Needs Marketing to Identify Opportunities

Before an innovation is even created, marketing teams need to be working to identify what needs are
going unmet in the consumer population—what consumers don’t even realize they can’t live without.
Marketing needs to be thinking beyond what’s already here and imagine what’s missing. These are the
places where innovation can make an impact.
 Innovation Needs Marketing to Identify Proper Channels
For the innovation to “set,” you have to hit the right customers where they are. Data can help you define
these channels! But you still need to market to them to be successful.

 Innovation Needs Marketing to Create Ecosystems of Opportunity
Customers want to be able to go full-steam right out of the user gate. If your innovation is
going to be useful, it needs to bind itself to what they’re already using. That’s why your
marketing team needs to work with you in tandem to build out an entire ecosystem of
opportunity where your innovation can thrive.
 Innovation Needs Marketing to Understand Their Audience
Your marketing team needs to understand the limits—perceptions—issues that lead your
customers to make the decisions they do. These are the questions that make the difference
between disruption and innovations that go nowhere
 Innovation Needs Marketing to Find Use Cases That are … Useful
For your innovation to work, marketing needs to be working to make a clear use case
(preferably many) for the product. They need to be showing the parts of their lives it will
improve and make easier. Innovation 101: You will not make money on cool alone.
Developing use cases is an essential part of the development process.
WHAT IS INNOVATIVE MARKETING
Innovation marketing as a discipline encompasses marketing activities in the innovation

process. This includes, for example, research into customer needs, concept and prototype tests
with customers and the marketing of new products. These are all key tasks in innovation
management and innovation marketing plays a very important role in securing and
increasing the success of innovation.

SOME EXAMPLES OF INNOVATIVE
MARKETING STRATEGY
 IKEA has always had close ties with innovation. Founded in 1943 as a mail-order sales business,
the company has grown into a global multinational spanning 46 countries.
 IKEA’s products are renowned for the level of detail that is put into their design – enabling their
furniture to be easily assembled, often without tools – and equally it’s in the detail of IKEA’s
marketing where the company is most innovative. The brand has put customer-experience at the
heart of their marketing strategy, not just at individual needs and touch points, but across
the whole buying cycle.
 In 2013, for example, they launched the Catalogue app, which not only gave users access to the
company’s inventory, but via augmented reality, actually allowed them to view how items would
look in their home spaces.
Virgin America
 Virgin America operate in a competitive industry, where brand loyalty and customer
service are key. Naturally, feedback plays a crucial part, which is why Virgin introduced a
focus group program, VX Next, a group of 30 frequent flyers and entrepreneurs who
generate ideas for the airline in return for flyer rewards.
 As a direct result of their feedback, Virgin America introduced an in-flight social network
enabling passengers to connect during the duration of a flight.
 The airline recently produced an incredible six-hour video detailing an entire in-flight
experience on fictional Blah Airlines. The (incredibly) long-form content was supported
by a website, and accounts on social media channels including Twitter and Instagram.
INSTAGRAM
 Recently, Instagram have massively ramped up the advertising provisions within the app
with new app APIs. It’s been a highly positive development and brands in the fashion as
well as wider industries are beginning to enjoy the ability to share content, which users
are engaging with just as they would with other content.
 Today, 86 percent of the top global brands are active on the platform, which is a powerful
endorsement for the validity of the platform as a marketing and advertising channel.
LOREAL
 L’Oréal understands that providing for digital-era consumers pre-purchase, is just as

important as allowing them to sample products at makeup stands and counters. For this
reason they designed an app.
 L’Oréal’s Makeup Genius app allowed users to use their phones to do a digital makeover.
The brand recruited the same team behind the makeup of “The Curious Case of Benjamin
Button” to provide the realistic visual effects needed. Consumers responded positively;
the app was downloaded 7 million times.
THANK YOU

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WHY GREAT INNOVATION

NEEDS GREAT MARKETING

HARVARD BUSINESS REVIEW(20TH FEB)

 Innovation Needs Marketing to Identify Opportunities

Innovation marketing as a discipline encompasses marketing activities in the innovation

 L’Oréal understands that providing for digital-era consumers pre-purchase, is just as

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