Marketing Innovation in the Food Industry

Abstract

Marketing innovation is an indispensable tool in the food industry for product development and sustainability, but the research is inadequate in the context of emerging countries. Therefore, this research aims to investigate the role of marketing innovation in the Bangladeshi food industry. The study applied a qualitative research strategy in light of the interpretivism philosophy and conducted open-ended interviews with three officials, including the managing director, the manager, and the executive. After that, the research analyzes the data thematically using Microsoft Office. The research findings show that marketing innovation in the Bangladeshi food industry is growing via social media, e-commerce, influencers, and digital marketing. However, food industry innovation is slower than other sectors. However, factors for marketing innovation are easy access to the internet, smartphone usage, consumer demand for convenience, market competition, digital marketing tools, e-commerce, influencer marketing, health consciousness, and eco-friendliness. Likewise, health consciousness and social media campaigns, eco-friendly packaging, and influencer marketing generate the excellence of marketing innovation. According to the diffusion of innovation theory (DOI) guidelines, the study finds that early adopters are motivated mainly by the food industry innovation. The research suggests that companies must apply digital marketing, sustainable practices, and consumer-centric approaches in the food industry. Likewise, they must focus on long-term success when facing challenges related to resources and infrastructure. Process and administrative innovation should also be considered in marketing innovation.