Which is more important?

A) An innovative company or B) A great marketing team

Neither.

Marketing and innovative are the two key elements for small business to success. They should go hand in hand. This integrated approach is evident in many great companies today such as Google Adsense, Toyota Prius and “World of Warcraft”. For example, when Nike launched Nike+, an app that works as a personal trainer, the product was a collaborative effort between their marketing and creative departments but not developed by one employee brainstorming in his or her cubicle. Both departments are able to bring this idea to the market successfully.

There is indeed a strong connection between innovation and marketing.

Definition of marketing has changed over time. Modern-day marketing involves any activity that gains and retains customers while back in the days, marketing is more of about sales and to advertise. Marketing now is to be able to continuously create better advantages and benefits for the consumers and also to influence customer service. How can this be done? Again, the answer is to collaborate. Marketing is the department that will provide information of what will work in the market, what will not and what gap is unmet. While, the innovation department will create ideas and possible solutions.

Remember, a good idea alone never brings the customers, marketing does. Size of your business is not an excuse to ignore innovation and marketing.

Innovation in business aims to give customers the best possible products, services and experiences to meet their needs as well as wants. With innovation, it makes marketing a simpler task.