INNOVATION

The process of making an idea or invention into

a good or service that creates value and / or for
Which customers will pay.
OR
In simple words exploitation of new ideas is
Known as innovation.
 EXAMPLE OF INNOVATION

ENERGY PRODUCING ROADS

Energy harvested from roads captures unused ambient

Energy and converts it to electric power.

This electricity can then be used to power road

infrastructure such as lights and signals.
ORGANISATIONAL INNOVATION

Organizational innovation is a process of receiving

and using new ideas to satisfy the stakeholders of
an organization.
EXAMPLE OF ORGANIZATIONAL INNOVATION

MICROSOFT

Founded on 4th April 1975 by Gates and Allen.

First product - Altair 8800 designed in 1947.

Signed contract with IBM to develop.

Got big break in 1980 .

As of 2022,Microsoft has the fourth-highest global brand valuation.

 PROCESS INNOVATION

Process innovation is the improved implementation

Of a new significant improved production or delivery
method. this includes significant changes in techniques,
Equipment and software.
EXAMPLE OF PROCESS INNOVATION

MITTI COOL REFRIGERATOR

Launched by Mr. Mansukhbhai Prajapati.

Add many important nutrients like-calcium,
phosphorous , iron , magnesium &sulfur to food.

IT WORKS ON THE PRINCIPLE OF

EVAPORATION.
 PRODUCT INNOVATION

Product innovation is the process of creating a new product

or improving an existing one to meet customers need in a
Novel way.

Innovation represents a new way of solving a problem a

High number of consumers have.
EXAMPLE OF PRODUCT INNOVATION

SUITCASE

In 1970 Bernard shadow invented suitcases.

Business travelers purchased ‘dress-suit cases’ to
store their business attair,and the name suitcase was
born.
 In 1987 Robert Plath updated sadow’s design by
placing the suitcase vertically , attaching two wheels
and building retractable handle.
 MARKETING INNOVATION

Marketing innovation is the incorporation of new marketing

methods & techniques that differs from the previous ones &
Involve significant changes in product promotion , design ,
Packaging , and placement. It helps improve a product or
Service and reach a wider audience.
 EXAMPLE OF MARKETING INNOVATION

INSTAGRAM

 Launched on oct.6 , 2010

The credit for the invention of instagram is given
to Kevin Systrom and Mike Krieger.
 Owned by facebook (Mark Zukerberg).

Instagram makes its money from advertising , so it is

consider as marketing example.