Ph.D (Candidate of Economic Sciences), Levchenko M.O

Khmelnytskiy national university

New product innovative technologies output on the market

Nowadays during the times of global changes in the world economy, it is very important to analyze new ways to conquer the markets and technologies to do it. Ukrainian enterprises are faced with big opportunities and at the same time, research shows that high economic meaningfulness of innovations, inculcated in industries, is levelled by the overextension of productive mastering terms of the different sorts of innovations. Imperfection of new product output mechanisms to the market and pre-treatment to the output does not allow taking into account the specific requirements of potential consumers, and influence of other market factors to a full degree. This confirms actuality and meaningfulness of problem and necessity of its further consideration in the presented research.

Today it is important for Ukrainian enterprises to understand that modern technologies and especially innovative ones, that include using global web, social services and communication, is the most valuable key to success.

In the processes of modern market development the bases of enterprises functioning on the markets have changed substantially. It is naturally, that innovative activity can’t stay out of this process of economy transformations, as it is organically related to the basic technological processes of production, with the material and technical supply of enterprises and prepared production distribution, with work and co-operation of different subdivisions and services. Changes, that take place in a politics, economy, and demography so intensively, make it harder for the enterprises to adapt [1].

If enterprise faces mature, commoditized markets, yet wishes to grow, prosper and be successful at new product development, then development portfolio must contain some bold, breakthrough innovation projects. Five vectors must be in place to undertake true innovation to yield bolder and imaginative projects, according to R. Cooper benchmarking studies of hundreds of firms:

1. Developing a strategic focus. To succeed in new product, enterprise needs a strategy that focuses on its efforts on the most attractive markets. This is enterprise future engines of growth.

2. Fostering a fertile climate and culture. Being able to innovate consistently is dependent on the organizational climate and culture in which that innovation occurs.

3. Generating, capturing and handling ideas. To achieve bolder concepts and more integrated product and service solutions, enterprise needs to come up with big ideas. Looking to traditional sources for inspiration will only ever yield the same old tired concepts.

4. Designing a next-generation, idea-to-launch process. Generating great ideas is half the battle. The other half is moving from the idea stage through development and into the marketplace relatively quickly. Just because enterprise is seeking to be imaginative and bold is no reason to throw discipline out the window. True innovation is entrepreneurship with discipline and due diligence, not shooting from the hip.

5. Deciding the right investments, picking the winners. While enterprises may be committed to all the previous steps, they are often unable to commit the resources it takes to get the job done. This is because existing resources are frequently consumed by too many small projects, so there is simply nothing left over for anything larger or more ambitious.

Analysing aforesaid, it is possible to assert that a market for new products is part of commodity market with an inherent to it’s infrastructure in which next blocks are distinguished: organizational complex, including the system of subjects, that are operating in the field of new product output, material complex (aggregate of innovative product consumers), informative complex (informative, certificate, analytical, marketing systems), skilled complex (amount of the specialists that are necessary for the innovative product output to the market), normatively-legal complex (aggregate of norms and rules, regulating subjects relations on the markets in the process of innovative products output) [2, 3].

It is necessary to mark that the innovative product market in Ukraine is characterized by the subzero competitiveness of products and small stake of first-order innovations, which are based on fundamental knowledge and allow to do high-quality changes in industry. This question rose up especially after Ukraine announcement of association with EU, which will result in market opening and its barriers reduction for the great number of enterprises [4].

And it must be noted, that the highest success Ukrainian enterprises will have when entering the market with new, unique product with innovative characteristics. Such approach allows examining the new product output on those stages, when a novation is transformed in an innovation that is coming to the market and also stages that are not referred directly to the market outputs are eliminated of the research.

During the development and innovation output to the market it is necessary to use scientific methods and approaches: portfolio analysis, complex approach, which offers economic algorithm of output expediency estimation.

New product performance on the new markets using the innovative technologies can be reduced to two major underlying dimensions—profitability and impact on the business. This reduction greatly simplifies the measurement and reporting of performance. The most important for the enterprise to provide successful output to the market is high-quality new product process, a clearly defined new product strategy for the business unit and adequate new product resources—people and money. Just having a formal new product process in place has no effect on performance. Technology or new product strategy must be firmly linked to business strategy. This means that management must develop a new product strategy for the business—new product charter that ties new products closely to the achievement of business goals, has clearly stated objectives, and defines areas of strategic focus or thrust [5, 6].

Management of an enterprise must realize that developing a great strategy, or hiring consultants to re-engineer the new product process, will not gain results if the situation on the market is uncertain. The goal of a new product output and a high-quality new product process will not be achieved unless the resources are in place. An understanding of the factors that drive new product output at the business unit level is critical if enterprise is to achieve the goal of increased performance.

References

1. Carter R. The Seven Cs Effective Supplier Evaluation. // Purchasing and Supply Chain Management. 1995, April. –P. 120.

2. Cooper R.G. New product success in industrial firms // Industrial Marketing Management. 1982. Vol.11. P.215–223.

3. Cooper R.G., Kleinschmidt E.J. An Investigation into the New Product Process: Steps, Deficiencies, and Impact // J PROD INNOV MANAG . 1986; Vol.3. P. 71–85.

4. Lambin JJ Strategic Marketing. European perspective. Ed. With CHF. St. Petersburg.: Science, 1996. P. 165.

5. Parasuraman A., Berry L.L., Zeitaml V.A. Conceptual Model of Service Quality and Its Implication for Future Research. // Journal of Marketing. Vol.49. 1985. P. 67.

6. Porter M. The Impact of Location on Global Innovation. The Global Competitiveness Report. 2002–2003. P. 227.