Innovations in the field of Marketing with special focus on Digital & Retail Marketing

It is often said, “Change calls for innovation and innovation leads to progress.” The world of marketing is constantly changing, especially in the modern era of social media, Automated Ad tech and Audience analytics. The core idea of marketing is connecting with customers and developing products and services that they need, want and value. In today’s economy, the marketing sector has been growing rapidly and has become an integral part of our social and economic system. With the development of the internet and rapid evolutions in the digital market, the marketing sector is full of new opportunities and challenges for innovation. Digital Marketing activities such as Content marketing, Big data, Artificial intelligence and machine learning, Social media marketing, Mobile marketing etc., create a commercial impact on businesses. Retail marketing has also become one of the major emerging trends in the entire economic cycle. Its primary focus is satisfying the customers which in turn create customer loyalty. With sales promotional techniques such as Influencer marketing, Referral campaigns, Member Reward system, Development of key partnerships, etc., adopted by the retailers, it is now possible to attract and retain clientele as well as create healthy relationships between customers and a brand. This paper attempts to throw light on various innovations in the Marketing sector and its role in the development of business. It also exhibits how any innovation, be it a product or process can function effectively in the long run thereby ensuring sustainable development.