Individual innovation appraisal- Concise written description of an Essay

Individual innovation appraisal- Concise written description of an innovation- proposal and evaluation - Essay Example For the innovation to existing in the market, availability of capital and implementation of sustainable market strategies will play a great role. Through proper planning, goal-setting a decision-making, the innovation will go through thorough market testing. After its viability is established, it will be released into the market. Another aspect that has contributed to its existence is availability of resources including human and financial resources. Without resources, it is impossible to get through with any innovation. Over the years, 3D has acquired popularity with more people being attracted to this kind of technology. The situation has forced entrepreneurs to develop new business models. In recent times, most companies are raising capital towards tapping the growing demand and market for 3D (Taylor, 2014). The aim maintaining relevance drives them. The Mink is triggered by the level of profitability expected. The Mink is likely to be successful mainly because of the much hype it has received from the general population. People are always attracted by unique and new ways of doing things. People also like to experiment even with things that they do not necessarily need. Marketing strategies that have been adopted to market The Mink will also ensure this success. Through advertising, the innovation is receiving popularity with more people embracing the idea every day. It is evident that advertising influences the success of a business to a great extent. Through various exhibitions, awareness has been created regarding The Mink. Social media has also played a role in enhancing the popularity. The innovation is, therefore, likely to succeed. Furthermore, it is a common believe that women are impulse buyers; profits are likely to increase since they are the main users of the innovation. Nonetheless, the cosmetic industry is doing well in the business market (Restauri, 2014). Most women use