Introduction
Objective of the Discussion One of the most renowned marketing gurus Phillip Kotler argues that innovation is the most critical aspect of a successful business nowadays (Burk & Lemley, 2009). Practically all known markets are oversaturated with offers, and the only way to succeed is by inventing new products and services or by changing the business and the marketing methods. Realizing that applying traditional cost-cutting methods of reducing overheads and attracting the new customers is no longer effective, the business community becomes focused on considering innovative approaches as the only effective method of keeping afloat and expanding the market shares ( ...
