Different companies adopt innovation or newness in order to ensure that their customers are fully satisfied with their products thus making it easy for them to remain loyal to the company. Such a move also ensures more sales for the company and consequently more profits.
Companies may also engage in innovation to ensure that it ascertain its position in the market as it wades of other competitors from taking its position as the leader in a particular field. A company like Apple has to ensure that its customers can access new products every now and then to ensure that they are loyal to it and that they are satisfied to a point that they do not necessarily seek other companies’ products.
Among the operational activities that have changed due to innovations and newness includes the quality of products as firms seek to ensure that their products appeal to customers, the promotion and advertisement means have also changed over the years as companies seek to reach more customers. Companies like Coca-Cola used a well know song, ‘Hey Brother’ by Avicii to appeal to its customers on the role played by their products in the market.
Companies have also changed their operation base where they ensure that products are taken closer to their customers so as to make sure that the customers can easily access them. Lots of changes in terms of innovation have come in handy in improving different businesses as the companies are able to appeal to more customers while at the same time making them more satisfied and loyal to the company’s product. Such is the case with big companies who always look forward to engaging in innovative processes to ensure they succeed in today’s market for example Apple and Coca-Cola.