In an ever-changing global scenario, marketing has become the eyes and the ears of a firm, which provide it with the early warning signals and insights on how to anticipate and prepare for changes. Technology has played a key role in transforming marketing. The most important shift in this new paradigm is the change from a mass marketing mentality to segments database marketing and mass customization, which has made it possible for companies to reach individual customers economically with customized messages, products & services. We are in a way going back to the Primitive marketing system using electronic barter system. Marketing innovation strategy play a very important role in launching a new product in the market competition of the competitors, various channels of distribution, customer segment in the market, network strategy of the distribution of the product etc. all these dimensions are required because it can affect to the purchase level of the customer and product share volume in the market. Companies have move from traditional marketing to modern marketing, which calls for more than developing a product, pricing it, promoting it, and making it target customers. Now we focus on Marketing Mix which includes Mc. Carthy?s & P?s: Product Price, Promotion & Place, are crucial for the marketing decision making process. These 4 P?s, are important for any marketer as they play a crucial role in framing of strategies. Product: The most visible changes in the sphere of marketing have obviously occurred with respect to product. Not only has there been a range of truly innovative offerings or new variants of existing products but there has also been a lot of thought and effort expended in divising new designs, new packaging, new features and even modifications to stocks keeping units. Products have an identity and a personality of their own. Products also embody the ethical decisions made at the corporate level. Tobacco and alcohol advertisements are extremely popular targets for regulations. The tobacco industry faced an ethical dilemma when the Government considered banning its products. The main objective of such a ban is to discourage adolescents from consuming tobacco products from an ethical stand point the Government should discourage the habit, as it is responsible for welfare of its citizens. The other ethical aspects in product is updating of consumer products. In the process of manufacturing and new product development, products may then lose their basic characteristics, when the product is updated service or spare parts for the earlier versions may no longer be available. This creates a dissatisfaction among customers and they may not be willing to buy a new product from that particular company. To stimulate market growth, companies must add new features without robbing the product of its basic identity and provide information to its customers. This goes in accordance with the basic principles of marketing that lay importance on providing satisfaction to consumers and reaping profits at the same time. Communication about offered products is deceptive. Misleading information decreases customer satisfaction as the products fail to meet customer expectation.