Abstract
To innovate is to create something; it is necessary to distinguish innovation from invention because an innovation need not necessarily always be an invention.
Innovation can assume four forms:
•Marketing plan for a new product launch or the improvement of a product that already exists
•A new method of production
•A new outlet for the industry
•The conquest of a new source of raw materials
Innovation can be radical or incremental:
Radical innovation - Innovation is radical when it deeply modifies the conditions of use of a product by the customers. Eg: from the steam engine to the gas engine.
Incremental innovation
Incremental innovation does not upset the usual terms but facilitates a noticeable improvement. It often arises from the will of the company to preserve its technological projection from its competitors. Eg: the transition from the ball computer mouse to an optical mouse.
P&G caters to a broad definition of innovation: what it is, from whom it originates, the person responsible for it. Innovation comes into play when companies like P&G set out to improve the quality/price ratio perceived by the consumers when they consume P&G products. Innovation includes the creation of the products, packaging, and communication campaigns to reach both consumers and suppliers.
