Why innovation is important?

It is said that the “nothing brings failure than the success itself”. If you don’t innovate and bring out new initiatives or new changes to the business, someone else will. The impact of this is, the customer would move from you to other vendor provided there is a clear benefit of value, price & time factors.
To sustain and grow, new value additions have to be brought to the table. Every customer wants to learn something new all the time. He/she wants to learn about the new features, new uses, new products etc. It is the job of the marketer to invocate these thoughts and produce the environment suitable for this growth.
To provide this environment to the customer, the company where the goods are produced, the people who are involved in these have to spend time and innovate new ideas to help customer.

Ultimately, the truth of the business is if you don’t then someone else will..