The direction of travel

Marketing and innovation share a fundamental connection which is woven into their essence. There are two ways that you can create value in the marketplace, you can either find out what people want and work out a really clever way to make it, or you can work out what you can make and find a really clever way to make people want it. The financial outcomes stemming from either trajectory are remarkably similar, blurring the distinction between the two processes, so it isn’t necessary to introduce a new product to perform research and development (R&D). An additional method of R&D lies in reshaping an existing product or service through diverse strategies like presentation, pricing, positioning, or framing, which may alter its market perception and relevance.