- Published: November 14, 2021
- Updated: November 14, 2021
- University / College: Babson College, F.W. Olin Graduate School of Business
- Language: English
- Downloads: 5
Following the concise discussion on innovation, sustainability and the global market, it is true that the world advanced following the ever-changing environmental factors. The findings clearly show that companies have focused on enhancing innovation and sustainability with the aim of developing the global market. The great influence to sustainability and innovation in the global market is subject to the relationship existing between the companies and its customers. Customers being the key factor in marketing of products and services require quality products and services from the companies. It is through their relationship with the companies where ideas about product and services development are generated. Companies take this initiative to implement the generated ideas and thus sustainability and innovation develop (Wagner, 2012).
Creation of the innovation in companies should largely develop from the customer ideas and inputs on products and services they want. As a result, it is important for the company to provide the customers with much more information through marketing so that the customers also provide a feedback on their feelings and best ideas. Responding to this feelings and implementing the ideas generated from the customers is vital for any company that needs to enhance its competitive edge relative to its competitors.
According to Wagner (2012), the key function of sustainability and innovation is product improvement and customer satisfaction. The result of sustainability and innovation is development of the global market. When a company develops strong sustainability marketing strategies it enhances its competitiveness in the market. As a result, customers remain satisfied since the companies offer them products and services that conform to their requests. In addition, the company enjoys increased customer base hence increased sales revenues and profits.
References
Wagner, M. (2012). Entrepreneurship, innovation and sustainability. Sheffield: Greenleaf Pub.
