Innovation and innovation process for decades are well-knowing fact that form organization and everday's surroundings. Global and technological trends make innovation more relevant than ever before. Every department in the company has its own role in the innovation process and therefore none of them can be neglected. In the process of planning and selecting innovation strategy the company has to decide what are the best strategies that can be applied in order to achieve desired competitive advantage taking into consideration company 's position on the market. In the modem innovation process, there exist certain needs that must be satisfied in the exact time they appear. On the other hand, potential problems such as had management coordination, weak structure within the organization, various processes that take too much time and simply inability to launch products or services in the perfect time cannot be neglected either. Then again, if the innovations are going to be divided according to the level of its implementation, we are separating incremental and radical innovation. Incremental are the ones that represent small, continuing and insignificant improvements of the product or service while radical innovation represents completely new innovation which hasn't appeared on the market at all. However, in despite of all that, the most fundamental ingredient of the formula for the successful innovation are consumers. There is no point in manufacturing something that no one wants to buy. Needs and requirements for the quality are increasing. Therefore, first and foremost, consumers are the one segment which has to draw company's attention in order to create successful and sustainable products or services.