Marketing Innovation Strategies - Innovative Management

Marketing Innovation Strategies

Marketing strategies, as noted above, relate to passive types of innovative enterprise strategies. Passive innovative strategies involve focusing the firm's attention on constant marketing innovations and/or modifying the product, i.e. with a minor product improvement without changing the basic technology of its production. At the present stage of the development of a market economy, only a few firms use isolated marketing innovation strategies. As a rule, the company uses a complex system of combining active innovation strategies and marketing innovations both with respect to the new product and within the basic assortment.

Marketing innovation strategies are based, as experience shows, on the use of three basic technologies of market management: a new product differentiation (and accordingly, its repositioning on the market), entering new target markets and using innovation in marketing policy (so-called ZR) - place, marketing, price, promotion (communication) policy.

Many companies achieve a significant increase in the competitiveness of the company as a whole due to constant innovations in these areas of marketing activities.

Constant improvement of the quality of goods and services has always been one of the main provisions of long-term development programs for many companies. By giving the product special properties of reliability, durability, and eco- logicality, companies create a certain positive reputation and image on the market. In an effort to distinguish, distinguish their products from the average market standard, companies are actively improving various aspects of quality. Having chosen an innovative strategy of qualitative differentiation, many companies were able not only to maintain, but also to improve their market positions.

The most notable has recently become one of the methods of non-price competition - find benefits from achieving your company's image in the public eye as the caring for employees, producing environmentally friendly products and generally oriented to the needs of society. The most far-sighted leaders have long realized that society requires companies to increasingly meet non-economic needs.

Market segmentation, being also one of the global marketing strategies, is inherent in the activities of almost all companies that are more or less oriented towards the application of the marketing management concept. As competition intensifies, the firm's activity increasingly focuses on meeting the needs and requirements of individual market segments. This is achieved by assigning the product features and characteristics that are most competitive in this segment.

So, the new segmentation strategy has become for the giant of the US soda industry company Coca-Cola the main method of fighting the corporation PepsiCo ("Pepsi Co."). The aggressive policy of winning, in turn, one segment after another, was combined with technological innovation. Coca-Cola introduced a whole product line to the market, where each new product was destined for a certain segment, starting with "Frisi" for adolescents, New Coke and Coca-Cola Classic without caffeine - for women [27].

Choosing a particular segment, companies are increasingly changing landmarks. For example, Procter & amp; Gamble has been actively using the segmentation strategy in the past few years, constantly adapting (modifying) the product to meet the individual needs of small groups of customers with its own brand and aggressive advertising.

Thus, at a certain stage of its activity, any company whose goal is an effective long-term existence in the market chooses one or another innovative strategy. Following the principle of an integrated approach to innovation, we can assume that the optimal solution is the combination of active and passive strategies in the implementation of innovation policy. This approach gives a unique competitive advantage to innovators, as it implies not only scientific and technical superiority, but also the presence of strong innovative marketing positions.

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