A Marketing Innovation is an innovation that satisfies customer needs and develops a competitive advantage through differentiation along one or more of the following performance characteristics:
- Desired Product Features and Design
- Size
- Usability/Service
- Quality
- Time
- Price
- Cost savings/ Incremental Revenues
As a rule of thumb, a good innovation strives to achieve a multiple or division of 2 to improve the above performance characteristics, which is called the Innovation Rule of 2.
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