Date of Publication :20th April 2018

Abstract: Marketing is “The management process responsible for identifying, anticipating and satisfying customer requirements profitably”. But in today’s globally competitive market environment, satisfying customers is a rigid task for every organisation or marketers. This calls out the changes in marketing environment which pushes the marketers to come out with new factors to create a positive impact in their growth of business cycle and in purchasing impression of customers. This article takes one of the key factor Innovation which is proficient of bringing massive revolution in marketing field. Innovation is nothing but a process of coming up with fresh and new ideas which no one has ever brought it into market and applying them accordingly to customer’s needs or trend with a anticipation of creating positive impact. Innovation is necessary to survive, compete, with hold market leader status and to earn more profit in the market. Innovation marketing is a method of involving significant changes in product design or packaging, product placement, product promotion or pricing. This article focuses on how marketing process, that communicate the value of a product or service to customers which uses the coordination of four elements McCarthy’s 4 Ps of marketing : Place (Distribution) Price, Promotion, and Product, could acquire innovation conception to add little more colors in the wings of their marketing strategies. For these mentioned reasons, this paper pays special attention to the marketing innovation techniques and the increasingly significant impact it has on the process of achieving sustainable competitive advantage

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