MITID Innovation has mentioned how trend driven innovation can help a business survive in the competition. To know more details, visit us at : https://mitidinnovation.com/recreation/trend-driven-innovation-to-survive-in-the-business-competition/

1. Trend Driven Innovation
to Survive in the
Business Competition
MITID Innovation

2. In simple words, trend-driven innovation can
be explained as spotting the latest trends and
recognizing whether they are beneficial for
their business or not.
Well, it is essential in today's changing world
to identify an ideal trend that could stimulate
your business's growth and provide highly
favourable results.

3. The need for trend-driven innovation is
relatively high and significant. It enables a
business organization to attract more
customers, launch new business
strategies and expand its market. It is
accomplished by raising the customer's
expectation and meeting the new high
every time you launch a new product or
strategy.

4. The need for innovation for
entrepreneurs has brought a new
milestone in every business strategy.
Therefore, we have mentioned how trend-
driven innovation can help a business
survive in the competition –

5. • The best part of trend-driven innovation is
that it helps in improving your customer's
overall experience to a great extent. It is
mainly because expectations of the
customers keep on increasing infinitely.
Once you work closely towards a trending
technological advancement with a touch of
creativity, your customer's expectations are
fairly met, and they look forward to other
advancements by your business.

6. • Another aspect of digital transformation is
that trend-driven innovation eases up the
workload of both an employee as well as
the customer. For examples, online
chatbots, 3-D imaging and VR techniques
have greatly improved the overall shopping
experience and made it more intimate,
personalized and unique.
Therefore, customers feel especially satisfied
and special, whereas the workload of
employees in doing a routine job that leads to
monotony also gets reduced.

7. • The importance of innovation for
entrepreneurs is more prominent if you
wish to stay unique and at the top of your
business. Everyone wants a different
concept that could meet the exact basic
needs of a person in a more advanced
way.

8. • Everything gets faded over a period of
time. Taking about the tech world,
every gadget and design loses its
charisma after it becomes widely
available in the market and becomes
outdated. So, it is suggested to enjoy
the trend when it is in trend.

9. Apart from that, having an eco-friendly
approach towards the environment has
grabbed many customers' attention,
especially after widespread awareness of
the phenomena. Every customer and
employee want to work and support the
organization which works sustainably,
has a safer and reliable future. The idea
of innovation of entrepreneurs is not
limited to business strategy but is a whole
round concept involving sustainability.

10. In a nutshell, trend driven
innovation plays an essential role in
propagating and expanding any kind of
business. From helping to meet the
expectations of customers to raising
theme every time, this strategy
dramatically attracts significant consumer
traffic. Also, many other aspects of trend-
driven innovation involve:

11. • Increasing the reliability of the
business.
• Improving customer experience.
• Reducing the workload and eyeing
out the competition.

12. According to Accenture's data, 62% of the
companies plan to invest in technologies
to boost high-growth innovation.
However, one needs the vision to
understand the evolving trending
technologies and their working to make
profit out of them. Therefore, to extend
such young minds' horizons, MIT ID
strives for holistic development and
produces a visionary mindset.

13. MIT ID Innovation Programme curates
knowledge and experiences that
challenge the very paradigm of evolution.
And that's why we have set out to define
the future of industries, communities,
cities and ecosystems. MIT ID Innovation
offers the best Courses in Innovation
and Design Thinking.
Conclusion

14. We’d love to
hear
from you.
MIT INSTITUTE OF DESIGN
Rajbaug,, Loni-Kalbhor, Pune-412201
innovation@mitid.edu.in
+91-7038982225 / +91 9834092369