Most businesses are on a lookout for innovation. It is the wish of many companies who are aiming to be brands and leaders of choice. According to innovation, a firm should be able to break into a marketplace and provide splendid sales and bring out top investors and talent. At the same time, they can be successful and relevant for the immediate future.
Patricia Newcomb, who is the director of Ohio’s Small Business Development Centre at the Entrepreneurs Centre said, “Innovation is more than something ‘new and improved,’ but rather represents a completely different approach to solving a problem or creating a gain.”
Innovation attracts the already existing customers and new customers. The CMO of Eureka! Inventing, Bruce Hall said, “We know if you want buyers to make a change, particularly if they have not purchased from you in the past, you have to provide something dramatically better than the current competition.”