Marketing for Innovation is the site with the latest on commercialising products, bringing research to market and introducing new services. Innovation marketing is essential for owners, marketers or innovators at engineering technology companies. MfI brings you the latest marketing strategies and techniques, specifically for high-tech markets, where customer knowledge is key.
How did MfI begin?
Marketing for Innovation was born from a desire to improve the way that new products and services are marketed. The world of engineering has always been a hub for new research and development of technology and products but there is a huge disconnect between marketing and engineering. This disconnect leads to slow time to market and aggravation within departments.
MfI aims to deliver knowledge, insights and strategies to alleviate some of these common problems. Please browse through the categories to discover the right solution to your problem. If you have a particular problem or questions, please contact us.
What is Innovation?
“Innovation is a new idea, more effective device or process. Innovation can be viewed as the application of better solutions that meet new requirements, unarticulated needs, or existing market needs. This is accomplished through more effective products, processes, services, technologies, or ideas that are readily available to markets, governments and society. The term innovation can be defined as something original and more effective and, as a consequence, new, that “breaks into” the market or society.”
The important part here is the last line, that the innovation breaks into the market. An idea, a new product or service cannot be called an innovation unless it is brought to market. This means that it has a customer base, it is advertised and sold within the target market.