Innovation in business depends on knowing what your customer needs.Online shopping was never a necessity but it was the need of the customers that enabled many to come up with online shopping apps. If some product lacks presentation, proper marketing strategy or its service can be offered in a better way then there is need of a new way to cater that. Always try to analyze a product/service with business perspective. Your business idea can be the improved or diversified version of already existing things.

Innovation in business depends on knowing what your customer needs.Online shopping was never a necessity but it was the need of the customers that enabled many to come up with online shopping apps. If some product lacks presentation, proper marketing strategy or its service can be offered in a better way then there is need of a new way to cater that. Always try to analyze a product/service with business perspective. Your business idea can be the improved or diversified version of already existing things.
Amna Kamran
Amna Kamran

What is Business Innovation

Innovation,as the word suggests, is doing something in a new unique way. This term is widely used when we talk about the business startups. We, as students, are always asked to participate with some innovative business idea. Business innovation is a term that is wrongly understood by doing something new altogether. It can also be done within the existing product or service for improvements.

Innovation in business depends on knowing what your customer needs.Online shopping was never a necessity but it was the need of the customers that enabled many to come up with online shopping apps. If some product lacks presentation, proper marketing strategy or its service can be offered in a better way then there is need of a new way to cater that. Always try to analyze a product/service with business perspective. Your business idea can be the improved or diversified version of already existing things.

What is Business Innovation

Service businesses have enormous potential for innovation. Services can be provided in the unique way to solve problems of many people.Home delivery of products is the services business itself that has gained a lot of market share. Bringing parlor services at home or tutor services online are few examples of innovated business ideas to cater the needs of the market.

Think of the competitive edge that can increase the market reach of the product/service.The textile industry is flourishing and there are numerous top brands in Pakistan. Many of them have gained fame internationally as well. If it was always about innovation, then there would be no competitor of brands like Khaadi, Alkaram, etc. The other brands made their names by capturing the innovation within the products and services offered.Innovation such as introducing vibrant colors, more design varieties provided tough competition for these brands to maintain their price. There is never a NO in business. It requires uphill efforts and continuous hard work to achieve profits.

What is Business Innovation

Knowing your right target market and providing the right product/service at the right time at the right place is the winning strategy.Always use the festivals and occasions for such innovative business ideas. These occasions can be used to gain short term profits and long term customer relationships by providing best of the services in economical price.Try to find the solution of the problems faced by family and friends last festival.

Try to find most common business problems that we see on every occasion frequently. Use them wisely for your benefits. Your unique answer to cater that problem can be your innovative business startup. Work in collaboration with different people. Work to earn mutual gains as Mutual benefits are greater than the individual benefits.

What is Business Innovation
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