According to Bill Campbell in an interview, only engineers know the information that they should get and deliver about the product they have produced and only effectively communicating that information to the customers would yield desired results. Now, this effective communication is done by our super-creative marketers. Therefore, it is important that marketers and engineers work hand in hand to effectively deliver what customers want. Marketers know their customers and their goal is to create customer value whereas engineers know their product and their goal is to create producer value. Therefore, when marketers and engineers work together, they yield innovative products that are customer-oriented. In an investigation, it was found that those firms are more successful at innovative product development in which the employees are well equipped with the required skills to strategize marketing as a whole.
Recently, a product-development process called Quality Function Deployment (QFD) has been adopted by U.S. and Japanese firms who promotes communication within the core team (marketing, engineering and manufacturing) and changes communication patterns from “top-to-bottom” management to focus more on horizontal routes where core team members communicate directly with each other and come up with better results. One of the greatest examples of integrating innovation with marketing is of Apple Inc., a multinational corporation which is ranked as the world’s most innovative company and who markets its designs and products as the customer’s need.
Thus given, the importance of innovation in today’s business world, this paper focuses on how the MSC for innovation can be implemented and applied in other countries in the light of present marketing concepts and theories.
MSc innovation and enterprise is a relatively new program offered. It is not being offered at any other